June 26, 2019 / 11:10 PM / 3 months ago

French retailer Casino to restructure in Latam - Brazil subsidiary

BRASILIA, June 26 (Reuters) - French retailing group Casino plans to restructure its Latin America business with its Brazil subsidiary retailer GPA to buy all shares in Colombian unit Almacenes Exito SA, GPA said in a securities filing on Wednesday.

Under the restructuring plan, GPA would use cash to acquire all shares in Almacenes Exito with a potential purchase price of 16,000 to 18,000 Colombian pesos per share ($5.03 to $5.66 per share). Casino would acquire all controlling shares in GPA indirectly owned by Exito. ($1 = 3,183.0000 Colombian pesos) (Reporting by Jake Spring; Editing by Sandra Maler and Jonathan Oatis)

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