GPA board approved the proposal of €10m (53.5m reais) presented by Casino to acquire the entire stake held by the company in Cnova, according to
- With the transaction, Casino will hold a 98.8% stake in Cnova’s total share capital
- Amount will be paid in two installments, the first one in cash, representing 80% of total amount due, or €8m (42.8m reais); second installment worth €2m (10.7m reais) until June 30, 2024
- Settlement will take place on Nov. 30, 2023
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