June 12, 2019 / 12:06 PM / 15 days ago

Casino’s Brazil unit agrees to sell shares in Via Varejo for minimum of 4.75 reais each - filing

SAO PAULO, June 12 (Reuters) - GPA, controlling shareholder of Brazil's Via Varejo and a unit of Casino Guichard Perrachon SA, said its board of directors approved the sale of all shares it owns in the retailer for a minimum price of 4.75 reais each, according to a securities filing on Wednesday.

Via Varejo's controller also said it received a letter from businessman Michael Klein in which he says that in the event GPA approved the sale of its Via Varejo shares on the stock exchange, he would offer, individually or with other investors, a maximum of 4.75 reais per share in the retailer. Klein's family holds a 25.2% stake in Via Varejo. (Reporting by Ana Mano Editing by Chizu Nomiyama)

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