Brazil's GPA rating and TP under review by UBS BB on potential IPO

Cnova NV

13/04/2021 14:02

** UBS BB put Brazil's food retailer GPA SA  PCAR3.SA  rating
and target price under review after the announcement of a
potential IPO related to its e-commerce unit CNOVA
    **France's Casino Guichard Perrachon SA announced on Monday
it is considering potential capital increases in CNOVA
subsidiaries Cdiscount and Green Yellow
    **Brazil's GPA owns 34.17% of CNOVA and has priority on the
sale of shares if the company is listed, but it is not clear if
the priority is kept in subsidiaries
    ** "Value creation for CBD is potentially high," UBS BB
analysts led by Gustavo Oliveira said in a note to clients
    ** The CBD stake could be worth between 7.85 reais and 44.90
reais per share, the analysts say

 (Reporting by Tatiana Bautzer)
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