Casino mulling to acquire stake in SMU before IPO - report (translated)
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Casino Group, the mass-market French retailer, is interested to acquire a stake in SMU, the Chilean retailer, before SMU carries out its long awaited IPO, Diario Financiero reported.
The Spanish-language article, without citing any source, said that Casino expressed its interest on this potential deal with SMU to one of the banks that is looking to participate in the IPO.
SMU’s IPO is likely to be carried out in 2016, the item noted. The company has still not selected the banks that will act as underwriters and agents for the IPO.
SMU is not looking to sell a stake in the company, the item pointed out, citing unnamed sources.
A previous report said that SMU’s IPO may be carried out in the first half of 2016.
SMU is controlled by Corp-Group which holds a 78.59% stake. Southern Cross has 12.4%, the Bravo family holds 3.35% and ILC and the Repetto family hold 3.2% and 2.45% respectively, as reported.
Diario Financiero, previously reported intelligence