French food giants battle over Brazil’s number one retailer

Thursday, June 30th 2011 - 21:07 UTC

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Two French food giants are locked in a battle to take over Brazil's number one retailer, Grupo Pao de Acucar. Proposals to merge Pao de Acucar with the local operations of Carrefour are opposed by rival Casino, which already has a stake in the Brazilian group. Read full article

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briton
As we have said before,
she is young growing and ripe for picking.
And she is well fought over, lucky brazil.
Jun 30th, 2011 - 11:21 pm - Link - Report abuse 0
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GeoffWard2
If the French food firm Casino is part-owner of Pao de Sucre, how come the PdS-C deal is being done behind Casino's back?

And why is BNDES underwriting it to the tune of BILLIONS of Reais of public (Brasilian taxpayeer's) money?

For 12% of annual worldwide shareholder dividend handouts to BNDES/Brasilian Government.

OK, it helps 'world growth' of a 'Brasilian' company, but it also means progressive, creeping nationalisation of all the big and successful private Brasilian companies in Brasil.
[Thinks: But can you blame them, it works for the Chinese!]

BNDES was created to help
the little guys become middle-sized guys, and
the middle-sized guys to become big guys
- not to help the super-rich national guys become even more super-rich world guys.

But buying into the super-rich with The People's Money allows
'a little bit here,
a little bit there,
and a little bit somewhere else'
and, all of a sudden, a shed-load of 'politicians' get very rich indeed.
Jul 01st, 2011 - 04:32 pm - Link - Report abuse 0
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