French retailer Casino sells stake in Brazil’s Assai

PARIS, Nov 28 (Reuters) – French supermarket retailer On line casino (CASP.PA) stated on Monday it experienced begun the sale of Brazilian money and have chain Assai (ASAI3.SA) as element of its normal financial debt reduction plan. shares.

On line casino reported it would offer 140.8 million Assai shares, or 10.4 per cent of the firm’s share capital, and could offer a further more 3.7 % of Assai shares later on.

The 140.8 million shares sold ended up well worth 2.7 billion reais ($499 million), based mostly on Assai’s Nov. 25 closing price of 19.21 Brazilian reals ($3.55).

The sale of Assai’s shares will acquire the sort of a secondary general public offering, Cassino claimed.

($1 = 5.4098 reals)

Reporting by Sudip Kar-Gupta Modifying by Edmund Klamann and Subhranshu Sahu

Our Criteria: The Thomson Reuters Rely on Concepts.

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