Announced in September 2022, the plan involved a capital reduction at GPA to distribute approximately directly to GPA’s shareholders.
: Shareholders received Éxito shares in the form of Brazilian Depository Receipts (BDRs) in São Paulo and American Depository Receipts (ADRs) in New York. Announced in September 2022, the plan involved a
While the spin-off process began in late 2022, it was formally approved by shareholders in early 2023. This move eventually paved the way for larger divestments: Announced in September 2022