Michel Klein seeks to buy back control of Viavarejo from Pao de Acucar
Michel Klein of the Casas Bahia founding family is moving to buy back Viavarejo from Cia. Brasileira de Distribuicao (Bovespa: PCAR4), one of Brazil’s largest retailers and known as Pao de Acucar, O Globo reported Sunday.
There is a large bank, which was not identified, interested in financing the transaction, Lauro Jardim wrote in his column in O Globo without giving a source.
Viavarejo is a retailer of home entertainment equipment, household appliances and furniture created from the merger of Casas Bahia and Ponto Frio in 2009.
Casino Guichard Perrachon [CO FP], the French listed supermarket chain, has controlled Pao de Acucar since June 2012.
O Globo