Casino intends to continue process to sell CBD's 43.3% stake in Via Varejo
French company Casino will continue the sale process of CBD’s 43.3% stake in Via Varejo, the blog from Brazilian journalist Lauro Jardim reported without citing any source. The blog is published in O Globo. The process is said to have been suspended on 24 March, after no offers were presented, as reported.
Casino is the controlling shareholder of CBD, as reported. Via Varejo and CBD are two Brazil-based retailers.
Last week, the Klein family informed Casino that it will participate in the sale process in partnership with two undisclosed funds, the brief Portuguese-language blogpost noted.
The Klein family is a shareholder of Via Varejo with 27.3% stake, as reported.
Brazilian daily O Estado de Sao Paulo has also reported that Casino and CBD still have the intention to sell the stake. However, there is no timeframe of when the new period to present offers will be opened, the item added without citing any source. The last period to present offers expired on 24 March, the item added.
Advent, Alibaba, Carlyle, Steinhoff, Lojas Americanas in partnership with 3G Capital, and Best Buy have been mentioned as potential interested bidders for the stake, as reported.
Via Varejo has a market value of nearly BRL 4bn (USD 1.3bn), as reported.