SAO PAULO, June 4 Brazilian retailer Grupo Pao
de Acucar said Wednesday its board, along with other
subsidiaries of the French retailer Casino, approved a
plan to merge their e-commerce units, which would have combined
annual sales of $4.9 billion.
Reuters reported in May that Casino Guichard Perrachon &
Cie hired Morgan Stanley & Co and JPMorgan Chase & Co
to list its global e-commerce business spanning from
Brazil to Thailand as the group faces competition from U.S.
giant Amazon.com Inc and Chinese rival Alibaba
Brazilian retail chains Via Varejo, Casas Bahia, Extra and
Ponto Frio, as well as Colombia's Exito are expected to make up
the bulk of the sales on the electronic sales platform, Pao de
Acucar said in a local market filing Wednesday.
A date for the IPO has not been disclosed.
(Reporting by Reese Ewing; Editing by Steve Orlofsky and Ken