* Klein family to sell one-third of 47 pct stake-Valor
* Via Varejo stock trading at steep discount to target price
RIO DE JANEIRO May 13 A minority partner of Via
Varejo, Brazil's largest home appliance retailer, plans to sell
as much as 2 billion reais ($988 million) worth of its stake in
a public offering, newspaper Valor Economico reported on Monday.
The Klein family currently holds a 47 percent stake in Via
Varejo, a holding company created in 2010 during a
merger with Grupo Pao de Acucar, the country's
The family sent a letter to Pao de Acucar on Friday
informing the company of its plan to sell 53.8 million common
shares in Via Varejo, a little more than one-third of the shares
it holds, Valor said, citing sources close to the family.
A spokesman for Grupo Pao de Acucar declined to comment on
the report. Representatives for Via Varejo and the Klein family
were not immediately available to comment.
The market value of Via Varejo, which controls appliance and
home furnishing chains Casas Bahia and Ponto Frio, is between 10
billion and 12 billion reais, according to analyses by Goldman
Sachs, Bradesco and BTG Pactual requested by the Klein family.
At that price, each share of Via Varejo could be worth
between 31 reais and 37.18 reais. The shares, which are rarely
traded due to its very small float, closed on May 7 at 23 reais.