Casino Raises Stake in Brazil's CBD to 41.4%
07 Abril 2014 - 4:54AM
Dow Jones News
By Inti Landauro
PARIS--French retailer Groupe Casino (CO.FR) has raised its
stake in Brazil's largest retailer in terms of revenue, Companhia
Brasileira de Distribuicao Pao de Acucar, or CBD, to 41.4% after
exercising a call option representing 3.4% of the Brazilian
company's capital.
In June 2012, Casino took control of CBD, after a fierce dispute
between Brazilian businessman Abilio Diniz, former chairman of CBD
and heir to the company's founder, and Casino's chief executive and
owner, Jean-Charles Naouri.
Write to Inti Landauro at inti.landauro@wsj.com
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