PARIS (Reuters) – Indebted French supermarket retailer Casino said on Monday that it had agreed an initial deal to sell its stake in Latin American retailer Almacenes Exito.
Grupo Pao de Acucar, a Brazilian subsidiary of Casino which holds 13.31% of Exito Group’s shares, is also party to this pre-agreement and also agreed to sell its equity interest in a tender offer deal, Casino said.
(Reporting by Sudip Kar-Gupta; Editing by Jacqueline Wong)
