Casino to Become Sole Controller of Brazil’s Pao de Acucar
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Casino Guichard-Perrachon SA, the French supermarket retailer, will exercise its option to become the sole controlling shareholder of Cia. Brasileira de Distribuicao Grupo Pao de Acucar, Brazil’s largest retailer.
Casino’s Chief Executive Officer Jean Charles Naouri will become chairman of Wilkes Participacoes SA, the holding company that controls the Brazilian retailer, Casino said yesterday in an e-mailed statement. Casino will also name most board members of Pao de Acucar, the statement added.