Home Tech Brazil retailer GPA commences proceedings to transform desired into typical shares By...

Brazil retailer GPA commences proceedings to transform desired into typical shares By Reuters


© Reuters. Brazil retailer GPA begins proceedings to transform most popular into prevalent shares

SAO PAULO (Reuters) – Brazilian retailer GPA SA (SA:) said in a securities filing on Wednesday that its board permitted designs to get ready for the conversion of all its favored shares into frequent shares, the to start with phase to migrate GPA’s listing to Brazilian inventory trade section Novo Mercado.

GPA also claimed it will request authorization from regulators in Colombia for a tender supply to get shares in Almacenes Exito SA, the Colombian device of GPA mum or dad Casino Guichard Perrachon SA (PA:), for 18,000 pesos per share. It also stated that On line casino Guichard is envisioned to buy GPA shares owned by Exito for all around 109 reais for every share.

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