France's Casino raises stake in Brazil's GPA

PARIS, April 7 Mon Apr 7, 2014 2:12am EDT

PARIS, April 7 (Reuters) - French retailer Casino said on Monday it had exercised an option to buy 8.9 million preferred shares in Brazil's top retailer, Grupo Pao de Acucar , raising its stake to 41.4 percent from 38 percent.

The deal will be accretive to Casino's adjusted earnings per share from 2014, the company said in a statement. (Reporting by Dominique Vidalon; Editing by James Regan)