Casino increases GPA offer

Casino increases GPA offer

M&A Corporate & Sovereign Strategy Capital Markets Equity Brazil Colombia Europe

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)

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