AFTER Casino’s decision to sell its shareholding in Éxito was announced, yesterday it was learned that the Gilinski Group, led by Jaime Gilinski, will make an offer for US$ 836 million, an intention that has already been reported to the Financial Superintendence.
The transaction would involve 96.52% of Éxito’s shares and money that would be paid in cash. Although the official offer will be made at the next meeting of the board of directors.
According to what was known, the purchase of the company would take the form of an OPA takeover bid that would then be launched by the businessman Gilinski, and the offer would be valid until July 7, 2023.
In a statement released by Grupo Éxito, it is indicated that the company’s purchase request will have to be governed by the regulatory approvals of the Financial Superintendence of Colombia and the Colombian Stock Exchange.
“The Companhia Brasileira de Distribuição (GPA), based on the terms of Law 6,404 of December 15, 1976, in force, and the Resolution of the Securities and Exchange Commission No. 44, of August 23, 2021, informs its shareholders and the market in general that today (Wednesday, June 28) Mr. Jaime Gilinski has submitted to the Company an unsolicited offer, not previously negotiated with management, to acquire the Company’s entire interest in Almacenes Éxito SA ”, the statement says.
On Tuesday it was reported that after the decision of the Casino Group to sell the majority stake it currently has in Grupo Éxito, the billionaires, Daniel Křetínský, of Czech origin, and the French businessmen, Marc Ladreit and Xavier Niel, Matthieu Pigasse and Moez -Alexandre Zouari, come up with the best chances of acquiring the shares.
According to the AFP agency, the French company Casino revealed its desire to divest its Brazilian subsidiary Grupo Pão de Açucar (GPA) and the Colombian Éxito, in full efforts to reduce its significant debt and guarantee its economic sustainability. De Éxito, Casino owns 56.10% of the total.
This is one of the measures publicly announced to “reinforce liquidity” and guarantee a “perennial capital structure” for the group, which closed 2022 with a debt of 6,400 million euros (US$ 6,970 million).