Casino said it would be selling 12.9% of Assai’s share capital, representing 174 million shares. The French company said the sale formed part of its plans to cut debts.
Casino said the sale amount could be increased by up to 80 million common shares, representing an extra 5.9% of Assai’s share capital.
Reporting by Sudip Kar-Gupta; Editing by Tom Hogue
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