The businessman Nelson Tanure closed an agreement to buy the Dia supermarket chain and is already preparing the ground for a merger with GPAowner of the networks Sugar Loaf e Extra. In fact, Tanure has already built up a 9% position in GPA while awaiting the closing of the Dia acquisition.
According to people interviewed by the report, the businessman asked the Administrative Council for Economic Defense (Cade) about the idea of merging the two retail groups. If Cade gives an initial green light, it could file for a merger of the companies in the first quarter of 2025, a source said.
Cade’s press office said that “there is no notice published about the operation so far”. A GPA representative declined to comment. Dia did not respond to a request after business hours.
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GPA has around 700 stores, and Dia has more than 200. GPA shares had a week of intense volatility, falling 11% on Thursday and jumping 5% at market close on Friday (13).
The jump was the biggest percentage increase in the Ibovespa, in a week in which shares linked to consumption were penalized by an increase in future interest rates amid fiscal concerns and a signal of more interest rates by the Central Bank.
Since Monday (9), GPA share purchase activity has come mainly from the trading desks of UBS Brasil, Agora CTVM and Master CTVM, according to data from Bloomberg.
Tanure is known for investing in stressed assets, with Light, Gafisa, Alliança and Ambipar in his portfolio.
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