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

Announced in September 2022, the plan involved a capital reduction at GPA to distribute approximately directly to GPA’s shareholders.

While the spin-off process began in late 2022, it was formally approved by shareholders in early 2023. This move eventually paved the way for larger divestments: Announced in September 2022, the plan involved a

In early 2024, both Casino and GPA sold their combined stakes in Éxito to the El Salvador-based for approximately $550 million . : Casino transitioned to a direct 34% stake

: Casino transitioned to a direct 34% stake in Éxito, alongside its existing 41% stake in GPA. Outcome and Evolution The Mechanics of the Spin-Off

This strategic "unbundling" was a critical step in Casino's multi-year effort to deleverage and simplify its global operations in the face of mounting financial pressure.

Maximizing Value: Casino's Strategic Separation of Éxito and GPA

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