GPA Plans Equity Offering, Potential Change in Casino’s Stake

GPA Plans Equity Offering, Potential Change in Casino’s Stake

(IN BRIEF) Companhia Brasileira De Distribuição (GPA) has taken steps toward a potential primary equity offering, as confirmed in a recent press release. GPA has scheduled an extraordinary general meeting for January 11, 2024, to discuss various matters, including the proposal to increase authorized capital by up to 800 million common shares. Additionally, GPA management, with Casino’s approval, intends to elect a new slate for the board of directors, contingent on the successful completion of the equity offering. This move is designed to align with the expected dilution of Casino’s equity interest in GPA. Should the equity offering proceed as planned and the new board is instated, Casino’s stake in GPA would transition to a non-controlling position.

(PRESS RELEASE) PARIS, 11-Dec-2023 — /EuropaWire/ — Following the press release issued by Companhia Brasileira De Distribuição (GPA), Casino group acknowledges that it is aware that GPA has initiated preliminary work efforts towards a potential primary equity offering as part of its plan to optimize its capital structure. GPA has convened an extraordinary general meeting on 11 January 2024 to deliberate on, among other matters, an increase in the Company’s authorized capital of up to 800 million common shares and the proposal by GPA’s management, with Casino’s assent, to elect a new slate for the board of directors, conditioned upon the closing of the potential offering, in order to conform with the expected dilution of Casino’s equity interest in the Company. In the event of the completion of this project, upon the investiture of such new slate for the board of directors, Casino would keep a non-controlling stake in GPA.

This press release was prepared solely for information purposes and should not be construed as, nor constitute, a solicitation or an offer to buy or sell securities or related financial instruments. Likewise, it does not provide and should not be treated as providing investment advice. It has no connection with the specific investment objectives, financial situation or needs of any receiver. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. Recipients should not consider it as a substitute for the exercise of their own judgement. All the opinions expressed herein are subject to change without notice

Media Contact:

ANALYSTS AND INVESTORS CONTACTS:
Christopher WELTON
cwelton.exterieur@groupe-casino.fr
Tel: +33 (0)1 53 65 64 17

IR_Casino@groupe-casino.fr
Tel: +33 (0)1 53 65 24 17

PRESS CONTACTS:
Groupe Casino – Communications Director
Béatrice MANDINE
bmandine@groupe-casino.fr
Tel: + 33 (0)6 48 48 10 10

directiondelacommunication@groupe-casino.fr
Tel: + 33(0)1 53 65 24 78

Agence IMAGE 7
Karine Allouis – kallouis@image7.fr – Tel: +33 (0)6 11 59 23 26
Laurent Poinsot – lpoinsot@image7.fr – Tel: + 33(0)6 80 11 73 52
Franck Pasquier – fpasquier@image7.fr – Tel: + 33(0)6 73 62 57 99

SOURCE: Casino Group