April 28, 2016 / 3:29 PM / 2 years ago

Casino's Cnova says reviewing possible Brazil merger with Via Varejo

PARIS, April 28 (Reuters) - Cnova, the e-commerce arm of French retailer Casino, said on Thursday that it was reviewing the possibility of merging its business in Brazil with Via Varejo S.A, the consumer electronics business of Brazilian retailer Grupo Pao de Acucar (GPA).

Casino controls GPA, which is Brazil’s top retailer and whose consumer electronics business Via Varejo is being hit by a recession in the country.

Cnova, which also oversees French online retailer Cdiscount, said it issued the statement in response to recent press reports.

It cautioned there can be no assurance that it will pursue such transaction, or as to the timing, price or terms that might be agreed.

Reporting by Dominique Vidalon, Editing by Mathieu Rosemain

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