By Luciana Magalhaes
SAO PAULO (Reuters) – French retailer Casino no longer considers Brazil’s GPA a strategic holding and is open to selling its remaining 22.5% stake in the company, an executive at Casino’s financial communications department said.
“Today, our stake in GPA is only as an investment, like any other,” Christopher Welton told Reuters in an interview, saying Casino could decide to dispose of its GPA shares based on its assessment of what is best for the group.
The executive, however, added that no deal is imminent. He denied rumors that the French group had hired an investment bank to offer its shares in GPA to local and international investors.
(Reporting by Luciana Magalhaes; editing by Gabriel Araujo)
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