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Casino raises stake in Brazil's CBD to 35.3 pct

Fri Jul 25, 2008 3:00am EDT

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PARIS, July 25 (Reuters) - French retailer Casino (CASP.PA) said on Friday it had raised its stake in Brazil's CBD PCAR4.SA (CBD.N) to 35.3 percent from 32.9 percent after it acquired 5.6 million voting shares at 22.9 Brazilian real ($14.52) per share.

The acquisition results from the exercise by Casino of the call option granted by the Diniz family in June 2005 which was reaching maturity.

The transaction represents a total cash consideration of 51.5 million euros ($80.86 million), Casino said, adding it will not modify the co-control of CBD exercised by Casino and the Diniz family. (Reporting by Marcel Michelson; Editing by Quentin Webb)



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