Casino Parent Ups GPA Stake

Casino Parent Ups GPA Stake

Brazil Europe M&A

Rallye, the parent company of France’s Casino, has again increased its position in Brazil’s Grupo Pao de Acucar (GPA,) by 0.6m preferred shares and 5m options, it says, bringing Rallye and Casino’s combined stake in the Brazilian retailer to 48.1%. The shares were acquired at an average price of $30, and represent 1.5% of GPA, while the options represent 3.5%, according to a person close to the company. The move follows an August acquisition of 3.2m shares at an average price of $

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