Via Varejo SA (VVAR11.SA)

VVAR11.SA on Sao Paulo Stock Exchange

8:18pm IST
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R$ -0.23 (-0.82%)
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Latest Key Developments (Source: Significant Developments)

Via Varejo to propose additional dividend payment
Monday, 15 Aug 2016 

Via Varejo SA : Said on Friday that its board of directors had approved to propose additional dividend payment totalling 2.7 million Brazilian reais ($846,262), corresponding to 0.0021 real per ordinary or preferred share and to 0.0062 real per unit . Dividends to be paid in up to 60 days after general meeting's approval . Record date is Sep. 12 .Shares to be traded ex-dividend as of Sep. 13.  Full Article

Brazil's CNova unit finishes internal investigation - GPA
Wednesday, 27 Jul 2016 

: Brazil's Companhia Brasileira de Distribuicao, also known as GPA SA , Brazil's largest retailer, said the internal investigation into the group's subsidiary CNova Brasil had finished . The investigation's findings regarding inflated sales, inconsistencies in reporting stocks and other irregular accounting has already prompted the Brazilian unit of CNova to lower its yearend financial statements stretching back to December 2013 . The administration of GPA recommends that it restate its yearend financial results for the past three years to reflect the adjustments to CNova NV's adjusted statements . The company said if approved by the board, it could result in a reduction of GPA's net income by 512 million reais as well as a reduction of its net worth of company assets by 304 million reais over the period Related story [nL2N1882DK] (Reporting by Reese Ewing) ((reese.ewing@thomsonreuters.com; +5511 98160-4173)) Keywords: P. ACUCAR CBD CNOVA/VIA VAREJO.  Full Article

Casino has no plans for delisting, restructuring of Grupo Exito
Wednesday, 22 Jun 2016 

Almacenes Exito SA :Said on Tuesday, in relation to media reports, Casino said has no intention to delist or restructure its public companies in Latin America, including Grupo Exito, CBD and Via Varejo , except for ongoing project involving e-commerce activities of Cnova and Via Varejo announced May 11.  Full Article

Cnova contemplates reorganization of brazilian activities within Via Varejo
Thursday, 12 May 2016 

Cnova Nv : Reg-Cnova n.v. : cnova n.v. Contemplates reorganization of its brazilian activities within via varejo . It has entered into a memorandum of understanding ("mou") with via varejo s.a. . Deal regarding a possible reorganization of its brazilian subsidiary, cnova brazil, within via varejo. . Cnova would receive 97 million of its own shares currently held by via varejo and cash consideration ranging from usd 32 million to usd 49 million . Via varejo would reimburse a debt currently owed by cnova brazil to cnova equivalent to approximately usd 127 million . Parties expect to reach a definitive agreement with respect to proposed transaction by beginning of q3 .Cnova's parent casino would make an offer to purchase outstanding ordinary shares of cnova from its public shareholders.  Full Article

Via Varejo SA proposes dividend payment
Wednesday, 30 Mar 2016 

Via Varejo SA:Says on March 24 it approved proposal of dividend payment, totaling 678,660 Brazilian reais, corresponding to 0.0005 real per share.  Full Article

UPDATE 3-Retailer Casino's efforts to revive profits fall flat with investors

* French 2017 operating profit 556 mln euros, up 9.4 pct (Adds comments from executive, fund manager)