As a result of the new organization of the Casino group in Latin America, Éxito closed today the acquisition from Casino group of 50% the ordinary voting shares of its subsidiary GPA in Brazil, representing around 18.8% of the total capital of the company, and a 100% stake in Libertad (subsidiary of the Group in Argentina). The transaction was approved by the Shareholders’ general meeting and the Board of Directors of Éxito.
Casino and Éxito agreed on shareholders’ agreements in order to organize the control of GPA. A summary of the contracts related to the transaction is available on the following link: http://www.groupe-casino.fr/en/press-releases/shareholders-agreements-for-segisor-wilkes-and-grupo-pao-de-acucar/
With the wealth of its brands and positions in Latin America, this new organization of the activities around Éxito, enables the Group to follow its strategy of growth and profitability at a rapid pace, strengthening its commercial presence in the region.