Casino Guichard Perrichon parent company Rallye raises stake in Pao de Acucar to 45.9%, asserts commitment to Brazilian retailer and Brazil market
Yohana Valdez
Los Angeles
,
September 13, 2011
(Industry Intelligence)
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Rallye SA, the parent company of France-based Casino Guichard Perrachon SA, announced that it has increased its stake in Brazilian retailer Companhia Brasileira de Distribuicao Pao de Acucar to 45.9%, Market Watch reported Sept. 12.
The August purchase of 3.3 million preferred shares and/or American depositary receipts is proof of Rallye’s ongoing commitment to the Brazilian retailer and the Brazil market, according to Rallye. The acquisition comes one month after Casino blocked a Pao de Acucar-Carrefour merger.
The primary source of this article is Market Watch, New York, New York, on September 12, 2011.
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