France's Cnova announces binding terms for Via Varejo reorganization

lunes 8 de agosto de 2016 18:01 GYT

SAO PAULO Aug 8 (Reuters) - France's Cnova N.V. on Monday announced a binding reorganization agreement regarding its Brazilian activities within home appliances retailer Via Varejo , according to a securities filing.

For all of its ownership interest in the local subsidiary Cnova Brazil, France's Cnova will receive about 97 million of its own ordinary shares currently held by Via Varejo and a cash consideration of approximately $5 million. (Reporting by Ana Mano; Editing by Matthew Lewis)