Pao de Acucar Says No Knowledge of Proposal for Via Varejo Unit
Cia. Brasileira de Distribuicao Grupo Pao de Acucar, Brazil’s biggest retailer, said it isn’t aware of any proposal involving its Via Varejo electronics and furniture unit, according to a regulatory filing yesterday.
The company responded to a request from the Sao Paulo stock exchange seeking comment after a report by Valor Economico on Oct. 25 said the Klein family may sell its 47 percent stake in Via Varejo should it not succeed in buying control of the unit. The newspaper didn’t say how it obtained the information.
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