Klein negotiate shares in Via retail with German group

SAO PAULO-the entrepreneur Michael Klein would be negotiating the sale of its shares in Via retail arm of Grupo Pão de Açúcar which administers the flags Casas Bahia and Ponto Frio-with the German group Steinhoff, today based in South Africa, according to found the newspaper O Estado de s. Paulo.
The negotiation, which would still be in the early stages, you can move about from 1.5 billion R$, according to market sources. Klein family slice in the company is today of 27.3%.
The Group Steinhoff has presence in continental Europe, in the United Kingdom, Asia, Australia, but is stronger in Africa. The company, which had revenues of $ 7.5 billion, operates 6500 stores in 44 countries.
The senior partner of Via retail is the French group Casino, the controller also Grupo Pão de Açúcar. According to a source, Michael Klein has reportedly warned the President, Jean-Charles Naouri, of their intention to go out of business. Despite this, the relationship between the partners would be friendly.
Disputes
Not always the weather between Klein and the Sugarloaf was mild In 2012, more than two years after a deal with the Group (then still was controlled by Abilio Diniz), the family asked for a review of the business-at the time, Klein held 47% of Via retail.
After trying to regain control of the company-option that was rejected by Casino-the family disbanded of part of its stake, raising about $ 2 billion in a stock offering in 2013.
After the reduction of the share Via retail, Michael Klein has been dedicating to the Group CB, which has real estate deals (including hundreds of shops of Casas Bahia are not included in the agreement with the GPA) and Executive aviation, among others.
Sought, the CB denied the negotiations. Via Retail released statement after being questioned by the Brazilian Securities Commission (CVM) on atypical movement on paper. The company said not knowing the reason for the interest out of default.
The units Via Retailers reached up almost 10 per cent yesterday morning, but ended up closing the day fall of 4%. The information is from the newspaper O Estado de s. Paulo.