(CercleFinance.com) – Casino indicates that its board of directors has approved the principle of the planned separation of GPA and Grupo Éxito through the distribution of around 83% of the capital of Grupo Éxito to its shareholders, a minority stake of around 13% that can be sold later.
This distribution would take the form of BDRs (Brazilian Depository Receipts) and ADRs (American Depository Receipts). Subject to the finalization of the analyzes and the obtaining of the necessary authorizations, it would take place during the first half of 2023.
Casino would then hold three separate listed assets in Latin America: Assaí and GPA in Brazil, both held at 41%, and Grupo Éxito in Colombia, with a direct holding of 34%, and an indirect holding via the minority stake of 13 % of GPA.