Casino Pares Down Venezuela Exposure

Casino Pares Down Venezuela Exposure

Colombia

French retailer Casino Group says it is selling an 80.1% stake in Venezuelan retailer Cativen to the Chavez government for $690m. The stake includes the 28.6% held by Colombian retailer Almacenes Exito, a subsidiary of Casino. Casino says it will retain a 19.9% participation in the company to continue providing operational support and develop cooperation with the new state-controlled entity. It adds that it will receive 60% of the total payment upon imminent closing, being 20% in cash and 40% in

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