GPA offloads stake in Via Varejo

GPA offloads stake in Via Varejo

M&A Equity Capital Markets Brazil Europe

Companhia Brasileira de Distribuição, which still goes by its former initials GPA, has agreed to sell its 36.3% stake in the retail group Via Varejo for BRL2.23bn ($577m). Michael Klein, the second largest shareholder in Via Varejo with 25.4%, is leading a group of investors that will buy the shares for BRL4.75 each, GPA said in a securities filing. Shares in Via Varejo dropped 3.2% after the announcement to close at BRL4.84 on Wednesday. GPA's shares, however, went up 0.4% to BRL87.20. GPA b

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