August 13, 2019 |
Companhia Brasileira de Distribuição, which goes by its former initials GPA, said it has approved the sale of BRL8bn ($2.01bn) in debentures to raise money for the acquisition of Grupo Éxito in Colombia.
The Brazilian retailer will divide the deal into four series with maturities between one and four years, GPA said in a securities filing.
GPA will acquire Éxito as part of Groupe Casino's plans to rearrange ownership of its Latin American subsidiaries. It has said it expects to pay COP16,000 to
Brazilian retail group outlines $2bn in debentures to pay for the takeover of another Casino subsidiary in Colombia