Exito, a subsidiary of Casino, increases capital to finance expansion

The retailer Exito Colombia, 54.8% owned by Casino, has announced a capital increase of $ 1.4 billion (1 billion) to finance its expansion.

Exito plans to expand throughout the region, particularly in Uruguay.

Casino will maintain its controlling stake of 54.8% in Exito by subscribing to the capital increase in through acquiring shares. The subscription period runs until September 23.

soruce : reuters, wall street journal, bloomberg