French retailer Casino raises US$780 million with the sale of a stake in Brazil’s Assaí

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Casino Guichard-Perrachon Group has raised R$4.1 billion reais (US$783.7 million) from selling another stake in Brazilian wholesaler Assaí, a deal to reduce the French retailer’s debt.

Casino announced Friday the sale of 254 million Assaí shares at R$16 each, including an additional quota, confirming an earlier Bloomberg report.

This represents a discount of about 1.5% from Thursday’s close.

Casino, which had already divested another stake in November . . .

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