Pão de Açúcar share auction grows to 17 mln shares -trader

SAO PAULO Fri Jan 11, 2013 1:24pm EST

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SAO PAULO Jan 11 (Reuters) - An auction of preferred shares of Grupo Pão de Açúcar has been expanded to 17 million shares from 13 million shares previously, a trader with knowledge of the transaction said on Friday.

Pão de Açúcar's chairman, Abílio Diniz, has offered to sell part of his stake in Brazil's biggest retailer as part of a plan to diversify his holdings and reinvest in other local companies, another source told Reuters earlier on Friday on condition of anonymity.

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