Michael Klein to Seek 2 Bln Reais Varejo Stake, Estado Reports

Michael Klein will seek next week to buy as much as 28 percent of Via Varejo SA for more than 2 billion reais ($980 million), newspaper Estado de Sao Paulo reported, without saying how it obtained the information.

Klein, whose family already owns 47 percent of Via Varejo, will travel to Paris on Nov. 13 to make the offer to Casino Guichard-Perrachon SA, the Sao Paulo-based newspaper reported.

A press officer for Klein, who can’t be identified under corporate policy, confirmed that the meeting is scheduled, when contacted by Bloomberg News. The official declined to comment on topics that may be discussed at the meeting.

Via Varejo controls retailers Ponto Frio and Casas Bahia Comercial Ltda.