August 21, 2019
France's Groupe Casino said it has increased an offer to expand its stake in its Brazilian affiliate Companhia Brasileira de Distribuição, still known as GPA, as part of a plan to rearrange ownership of its Latin American operations.
Casino will now pay BRL113 ($27.97) per share, up from BRL109 per share, the company said in a securities filing.
As part part of the acquisition, GPA subsidiary Sendas Distribuidora will launch an all-cash offer to buy Grupo Éxito in Colombia for COP18,000 ($5.26)
French retailer ups the amount to $28 per share as it rearranges ownership of its Latin American operations