The French Casino Group acquired almost a million of preferred shares of Grupo Pão de Açúcar (GPA), equivalent to 0.36% of the company''s capital, in June. With that, the position of the Casino group goes from 41.2% to 41.5%.
By the reported by the company on its investor relations page, the Casino was 22.8% of GPA and the Success group, controlled by Casino, 18.7%, 41.5% as of June 30 position.
The operation was completed in a month in which the paper has amassed 14% recovery, but still has value at levels well below the target price reported in analyst reports, mostly over 70 R$.
At the end of June, the closing quote was in R$ 46.71.
The company confirmed the operation. The decision to enlarge the slice in the GPA builds confidence in the company''s controller, according to the analysis group. Because it is a volume of papers purchased that does not require a statement about the transaction, there was no report to the market.
Information regarding the purchase of the shares of the GPA has been informed by the website "Brazil Journal".
Based on the price of the paper on 30 June, 0.36% of preferred shares equivalent to about R$ 45,000,000.
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