Jean-Charles Naouri recently announced that Casino Group has changed its organizational structure by regrouping all of the casino’s operations in Latin America.
These changes have strengthened its organizations in such a way that the casino will now focus on growth drivers. The new structure will also require the application of notable synergies in leveraging the various strengths of different entities. Casino analysts have also balanced the group’s debt structure.
Another major change is the Casino Group’s acquisition of 50 percent of voting shares from Exito. The casino now also owns 100 percent of Libertad, which is based in Argentina.
The Casino Group and Exito have both made agreements with shareholders to organize the GPA’s control. The GPA Board of Directors will be chosen in reflection of the casino’s new ownership structure, as there will be new directors appointed by Exito. It is important to note that there will not be any changes made in the GPA’s management structure.
With the transactions between the Casino Group, Exito, and Libertad, Exito will now fully consolidate the group’s activities in Argentina, Brazil, Colombia and Uruguay. This means that Exito will now be responsible for markets consisting of 280 million inhabitants.
Exito will also lead the Group’s retail to make certain that it shifts with the needs of its customers and the regional consolidation opportunities.
