Casino Group: Continuation of the analysis in view of the distribution of Grupo Éxito to GPA’s shareholders
Continuation of the analysis in view of the distribution of
Grupo Éxito to GPA’s shareholders
Paris, 5th September 2022,
The Board of Directors of GPA, subsidiary of Casino Group, has announced that it is considering to distribute approximately 83% of the shares of Grupo Éxito to its shareholders and to retain a minority stake of approximately 13%, with a potential for monetization in the future.
The Board of Directors of Casino met today and approved the principle of the proposed segregation of GPA and Grupo Éxito in order to unlock Grupo Éxito’s value.
The distribution of Grupo Éxito’s shares to GPA’s shareholders would occur through the delivery of BDRs (Brazilian Depository Receipts) and ADRs (American Depository Receipts), consistent with GPA's shareholder structure.
Subject to the completion of the preparatory works and the obtaining of the necessary approvals, the delivery of Grupo Éxito’s shares to GPA’s shareholders would take place during the first half of 2023. Upon completion of the transaction, Casino Group would hold stakes in Latin America in three separate listed assets: Assaí and GPA in Brazil, both owned at 41%, and Grupo Éxito in Colombia, through a direct holding of 34%, and an indirect holding via GPA's minority stake of 13%.
Disclaimer
This press release was prepared solely for information purposes, and should not be construed as a solicitation or an offer to buy or sell securities or related financial instruments. Likewise, it does not provide and should not be treated as providing investment advice. It has no connection with the specific investment objectives, financial situation or needs of any receiver. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. It should not be regarded by recipients as a substitute for the exercise of their own judgement. All the opinions expressed herein are subject to change without notice.
ANALYST AND INVESTOR CONTACTS
Lionel BENCHIMOL – +33 (0)1 53 65 64 17
or
+33 (0)1 53 65 24 17
PRESS CONTACTS
Casino Group – Communications Department
Stéphanie Abadie: - +33 (0)6 26 27 37 05
or
+33(0)1 53 65 24 78 -
Agence IMAGE 7
Karine Allouis : +33(0)1 53 70 74 84 -
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