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:
In early 2024, both Casino and GPA sold their combined stakes in Éxito to the El Salvador-based for approximately $550 million . While the spin-off process began in late 2022,
: Following the distribution, GPA retained a minority stake of roughly 13% in Éxito for future monetization. In 2022, the French retail giant launched a
In 2022, the French retail giant launched a significant reorganization of its Latin American assets. The centerpiece of this strategy was the separation of the Colombian subsidiary Almacenes Éxito from the Brazilian retailer Companhia Brasileira de Distribuição (GPA) . Why the Separation? by allowing Éxito to be valued independently by the market
by allowing Éxito to be valued independently by the market. 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.