French retailer Casino raises its stake in Brazil’s largest retailer

    French retailer Casino raises its stake in Brazil’s largest retailer

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    French retailer has raised its stake in Brazil’s largest retailer Companhia Brasileira de Distribuiçao to 37 per cent after buying 3.3 per cent of the company’s shares on the market.

    Companhia Brasileira de Distribuiçao is jointly controlled by Casino and the Diniz family through a 50:50 joint venture holding company called Wilkes. A shareholder agreement signed by both gives Casino an option to buy the Diniz stake in 2012.

    Source : Retail Week