(Boursier.com) — The Casino group announces today the launch of the sale of part of its stake in Assaí for 140.8 million shares (including in the form of ADS) representing 10.4% of the capital of Assaí, in order to accelerate its deleveraging. This number may be increased by a maximum of 49.5 million shares (including in the form of ADS) representing 3.7% of Assaí’s capital.
This sale, which has been approved by Casino’s Board of Directors, will take the form of a secondary placement, the allocation of which is scheduled for November 29 and settlement-delivery on December 2, depending on market conditions.
The banking syndicate mandated for this transaction is made up of Itaú BBA, BTG Pactual, JP Morgan, Banco Bradesco, Banco Safra and Santander.
For more details on the terms of the operation, please refer to the press release issued by Sendas Distribuidora SA dated November 28, 2022.
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