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Darrois Villey Maillot Brochier advises Casino on €1.7 billion reorganization of Latin American operations

Darrois Villey Maillot Brochier advised Casino on the reorganization of its Latin American operations for an amount of approximately €1.7 billion.

Under the new organization, Casino is regrouping all its operations in Latin America around its Colombian subsidiary Éxito, which is acquiring a 50% stake in the French company holding the ordinary voting shares of its Brazilian subsidiary GPA (representing around 18.8% of GPA’s total capital) and a 100% stake in the group’s Argentinian business Libertad.

Following this transaction, Éxito will fully consolidate all Casino group Latin American activities (Brazil, Colombia, Argentina and Uruguay).

Casino, which owns 54.8% of Éxito, will remain Éxito’s controlling shareholder and will continue to fully consolidate its subsidiaries Éxito and GPA.

The DVMB team included Bertrand Cardi, Forrest Alogna, Laurent Gautier, Hadrien Bourrellis and Charlotte Ferran in M&A and Vincent Agulhon and Mathieu Denieau in tax.

Casino was also advised by Brigard & Urrutia on Colombian law aspects, Trindade and Lefosse on Brazilian law and tax aspects, Wachtell, Lipton, Rosen & Katz on U.S. law aspects and NautaDutilh on Dutch law aspects.