Casino - comment

GPA continues the process of splitting the ownership of Exito from GPA, via share transfer. GPA currently holds 97% of Exito’s share capital, with the remainder listed in Colombia. GPA are going to distribute 86% of Exito shares directly to their own shareholders - including Casino, retaining a small 13% stake, which may be sold later. This will leave Casino with three different holdings in Latin America: c. 30% of Assai (post the share sale in Q4), 41% in GPA, and 34% in Exito (they will also hold 5% indirectly - 41% of 13%).

There will be a GPA general meeting to be held on February 14th, and if approved, the distribution of shares should take place in Q2.