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NASDAQ COLOMBIA

(NQCO)
Real-time Nasdaq  -  04:24 2022-12-06 pm EST
279.83 PTS   +1.60%
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Brazil's GPA is in preliminary studies to spin off Exito businesses

08/10/2022 | 07:23pm EST
The facade of an Exito supermarket, is seen in Medellin

(Reuters) - Retailer GPA said on Wednesday it is carrying out preliminary studies on a possible spinoff of its Colombian Exito businesses from the Brazilian parent company.

In a securities filing, the company added that the studies were aimed at unlocking Exito's value.

Reuters reported last year that GPA was mulling a spinoff of Exito, a measure that would fit with part of broader efforts by its parent company Casino to simplify its structure in Latin America.

GPA holds nearly 97% of Exito, which is listed in Colombia.

(Reporting by Carolina Pulice and Gabriel Araujo; Editing by Christian Plumb)


ę Reuters 2022
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