Casino has learned that Companhia Brasileira De Distribuição (GPA) has begun preliminary work on a possible primary offering of shares as part of its plan to optimize its capital structure.

GPA has called an extraordinary AGM for January 11, 2024, to deliberate on a capital increase of up to 800 million shares and the election of a new slate for the Board of Directors, conditional on the closing of the potential offer.

In the event of completion of this project and the appointment of a new board of directors (designed to comply with the expected dilution of Casino's stake), the French retail group would no longer control GPA.

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