GPA moves ahead with Assaí spin-off

GPA moves ahead with Assaí spin-off

Equity Corporate & Sovereign Strategy Capital Markets Brazil Europe US

Brazilian retail group Companhia Brasileira de Distribuição, which still goes by its previous initials GPA, said it received regulatory approval to spin off its wholesale business Assaí and list the shares in São Paulo and New York. GPA is carrying out the partial spin-off as part of a corporate reorganization that will see it receive Assaí's 96.5% stake in Colombian retailer Almacenes Éxito before the share sale. GPA's shareholders approved the deal on December 31. The shareholders will receive

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