PARIS (dpa-AFX) - Casino Guichard Perrachon SA (0HB1.L, CGUIY.PK), a French retail company, said on Monday that it is executing a pre-agreement with Grupo Calleja, which operates under the Super Selectos brand, to sell Casino's total equity interest in Almacenes Exito S.A., for $556 million in cash.
The transaction represents 34.05 percent of Exito's capital stock, which is to be sold in tender offers to be launched by Grupo Calleja in Colombia and in the U.S. for the acquisition of 100 percent of shares of Exito.
Grupo Pao de Açucar or GPA, a Brazilian unit of Casino, which holds 13.31 percent of Exito Group's shares is also party to the Pre-Agreement and agreed to sell its equity interest in Exito Group.
The price to be offered in the Exito Group is $1.175 billion for all outstanding shares, equivalent to $0.9053 per share, of which $400 million is for Casino Group's direct equity interest and $156 million is for GPA's equity interest.
Copyright(c) 2023 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2023 AFX News
