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The board of directors of GPA (Pão de Açúcar Group) approved Friday (22) the beginning of the process of transfer of the company to Via Varejo, which manages Casas Bahia and Ponto Frio.
The output of the AMP will begin next Thursday with the sale of 50 million shares of Via Varejo, which concentrates the retail business of appliances and furniture, this which corresponds to 3.86% of the capital.
Considering the closing price of Via Varejo Friday, R $ 4.56 each, this transaction would amount to about 228 million reais.
GPA's total stake in Via Varejo amounts to 43.23% of the company's capital. The complete exit of the unit is expected to be completed by the end of 2019.
The board also instructed the management to "actively pursue the sale of the remainder of the stake held in Via Varejo to a strategic investor ", according to an important fact communicated to the Commission.
The document further indicates that the transfer of GPA in Via Varejo can take place through capital market operations. The goal is that the operation takes place until December 2019.
The announcement comes nearly a month after Via Varejo unified its capital into ordinary shares and that she enters Novo Mercado, a segment subject to the strictest corporate governance rules of the São Paulo Stock Exchange.
ESTERMANN
In a separate statement, Via Varejo announced the return of Peter Estermann to the post of CEO of the company, a position he will hold with the chairman of the board of directors of Via Varejo and the executive chairman of the company.
According to Via Varejo, the executive will be among the priorities "not only to accelerate the completion of ongoing changes, but also to seek a rapid and consistent recovery of the company's profitability to during the first months of 2019. " [19659002] Via Varejo was adopted in February for an exchange of command. Flávio Dias succeeded the presidency in place of Peter Estermann, who later took over the presidency of the GPA.
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