Casino will sell 18.8% of the capital of its Brazilian brand for 723.2 million euros – Le Journal des Entreprises
Casino announced on Friday that it had set the price for the sale of its stake in the Brazilian supermarket chain Assai at 16 Brazilian reals (2.87 euros) per share, for a total of 723.2 million euros. As part of the placement, 254 million Assaí shares, held by the Casino group, and representing 18.8% of the capital were thus allocated. At the end of the transaction, the Saint-Etienne retail giant “will hold an 11.7% stake in Assai’s capital and therefore will no longer control the company”, specifies the group’s management in a press release. The “settlement-delivery” of the securities sold is scheduled for March 21, 2023.
