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Takeover of Po de Acar since approved | 9th July 2012 : WorldCasinoYellowPages

Takeover of Pao de Acucar since approved

... 09 July 2012

SAO PAULO – Regulatory approval was granted to France’s Casino on Wednesday to take over the largest retailer Group Pao de Acucar of Brazil at Brazilian antitrust regulator Cade in a marathon session. Jean-Charles Naouri, the casino CEO took control of the holding company that controls Pao de Acucar. The handing over process was approved without any opposition from any quarter. An accord between State oil producer Petrograd and the prominent mining company Vale also got the approval from Brasilia-based regulator. Vale is currently involved in the potash mining activities at the Taquari-Vassoras in Brazil’s Sergipe State. Brazil intends to enhance the production of potash and become self-dependent as the product is required in large quantities as a supplementary fertilizer for soybean, sugar and coffee. Takeover of food processor, Yoki by General Mills Inc. was also approved by Cade in the same very session.

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