Cnova details emerge

Cnova details emerge


Brazil's Nova Pontocom is set to own 53.5% of online ecommerce company Cnova, under plans detailed last week. France’s Casino Group, which is controlling shareholder in Grupo Exito, has filed preliminary paperwork to list the company in the US. It will hold 46.5% of Cnova. Via Varejo and Companhia Brasileira de Distribuicao, owners of Nova Pontocom, will indirectly hold 23.5% and 28% of the new company. CBD will be able to appoint two members to the nine-person board, while Via Varejo will appoi

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