Brazil’s Pao de Acucar surges on buyout plan
JUSTIÇA DE SÃO PAULO DETERMINA QUE O MUNICIPIO AUTORIZE A EXPEDIÇÃO DE NOTAS FISCAIS ELETRÔNICAS.
9 de fevereiro de 2024
Por que Rússia deve crescer mais do que todos os países desenvolvidos, apesar de guerra e sanções, segundo o FMI
18 de abril de 2024Shares of Brazilian retailer Pao de Acucar (PCAR4.SA) rose more than 12 percent on Wednesday, a day after France’s Carrefour (CARR.PA) moved to snatch control of the company from its archrival Casino (CASP.PA).
The proposal to merge Carrefour’s local unit with Pao de Acucar would essentially ruin Casino’s plans to take control of Brazil’s No. 1 retailer, setting up a showdown between the French retail giants and highlighting the eagerness of investors to tap into Brazil’s booming consumer markets.
Shares of Pao de Acucar rose 12.1 percent to 82.11 reais in Sao Paulo, later paring gains to 78.88 or an increase of 7.69 percent.
Casino said it would fight the deal, on which it would have a vote, because it is a shareholder in Pao de Acucar.
The head of Casino is calling on his partner at Pao de Acucar to meet in the coming days to discuss the battle for control over the company, a source close to the matter told Reuters on Wednesday. [
