2022---casino-wants-to-maximize-the-value-of-its-brazilian-assets-by-separating-exito-from-gpa Site

—Assaí, GPA, and Éxito—providing the group with multiple monetization options.

: Shareholders received Éxito shares in the form of Brazilian Depository Receipts (BDRs) in São Paulo and American Depository Receipts (ADRs) in New York.

by allowing Éxito to be valued independently by the market. The Mechanics of the Spin-Off

The primary goal of this move was to of Grupo Éxito, which Casino believed was not fully reflected while it remained a subsidiary of GPA. By spinning off Éxito, Casino aimed to:

: Casino transitioned to a direct 34% stake in Éxito, alongside its existing 41% stake in GPA. Outcome and Evolution