No 2. French Food Retailer Ups Stake in Brazil's CBD
SAINT-ETIENNE, France -- Casino Guichard Perrachon & Cie SA, the second-biggest supermarket company in France after Carrefour, has increased its stake in Brazil-based Cia. Brasileira de Distribuicao Grupo Pao de Acucar (CBD) to 34. 3 percent from 27.4 percent by paying approximately $587 million to share control of that country's top grocer, according to published reports. Casino's stake will eventually grow to 39 percent of CBD without any further payment by the French retailer.