GPA denies sales reports

GPA denies sales reports

M&A Corporate & Sovereign Strategy Debt Brazil France Commerce Retail shopping

Brazilian retail group Companhia Brasileira de Distribuição, which still goes by the initials GPA, has denied reports that it is for sale, but analysts said its parent company Groupe Casino could shed some its businesses to lower debt. Local newspapers O Estado de S. Paulo and Valor Econômico reported on Tuesday that France's Casino had hired local investment bank BR Partners to arrange the sale of its 41.2% stake in GPA. But the Brazilian company said in a statement that "no bank has been hired

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