Brazil's GPA sells Cnova stake to Casino

Cnova NV

27/11/2023 11:08

SAO PAULO, Nov 27 (Reuters) - Brazilian retailer GPA
 PCAR3.SA  has agreed to sell its 34% stake in e-commerce firm
Cnova  CNV.PA  to its French controller Casino  CASP.PA , it
said in a securities filing on Monday, concluding talks that had
started in September.
    GPA said its board of directors had approved the French
retailer's 10 million-euro ($10.91 million) offer for the Cnova
stake. Casino, which already holds a majority share of the
e-commerce company, will increase it to 98.8% following the
deal.

($1 = 0.9168 euros)

 (Reporting by Gabriel Araujo; Editing by Steven Grattan)
 ((Gabriel.Araujo2@thomsonreuters.com; +55 11 5047-3352;))