September 11, 2020 |
Brazilian retail group Companhia Brasileira de Distribuição, which goes by its former initials GPA, said Wednesday that it is studying a possible spin-off of its wholesale unit Assaí ahead of listing its shares on the stock exchanges in São Paulo and New York.
GPA said its board approved a study of a partial spin-off of Assaí and the subsidiary Sendas Distribuidora to provide the separate businesses with better access to financing.
"The goal of the potential transaction is to unleash the full po
Brazilian retail group says spin-off could come before an IPO in São Paulo and New York