The Brazilian government’s anti-trust commission on has approved an agreement between French retailer Casino Guichard Perrachon and huge Brazilian supermarket chain Companhia Brasileira de Distribuicao, reported the Dow Jones news agency.

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The agreement, announced 3 May effectively raises the French company’s stake in CBD to 34.3% from the previous 27.4%. The stake will gradually rise to 39%, under the accord.


“The agreement does not harm competition within the Brazilian supermarket industry,” said the ruling by the Brazilian Anti-Trust Commission, or CADE.


Under the 3 May 3 deal, Casino and CBD’s Brazilian managers agreed that the Brazilian stake holders would continue to effectively control and administer CBD under longtime Chairman Abilio Diniz.

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