By Olivia Bugault

 

Casino Guichard-Perrachon SA (CGUSY) said Friday that it has signed agreements with its subsidiary Companhia Brasileira de Distribuicao Grupo Pao de Acucar (PCAR4.BR), or GPA, and Almacenes Exito SA (EXITO.BO), or Exito, for the launch of GPA's all-cash tender offer on Exito.

The French retailer and GPA's shareholder said that the GPA's tender offer on Exito received the necessary corporate approvals.

Meanwhile, Casino said its acquisition of Segisor's shares held by Exito has been approved.

Following the approvals, Casino signed a pre-agreement with GPA for the launch of the tender offer and a share-purchase agreement with Exito for Segisor's shares.

 

Write to Olivia Bugault at olivia.bugault@dowjones.com

 

(END) Dow Jones Newswires

September 13, 2019 01:45 ET (05:45 GMT)

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