March 27, 2017 / 10:45 PM / in 5 months

Brazilian retailer GPA plans $384 million capital spending plan this year

SAO PAULO (Reuters) - GPA SA, Brazil's largest diversified retailer, plans to invest as much as 1.2 billion reais ($384 million) this year to bolster growth in supermarket, cash-and-carry and real estate.

In a securities filing on Monday, the board of GPA (PCAR4.SA) said they would propose shareholders approve this year's budget for capital spending, which would earmark 539 million reais for multiple retailing formats and 596 million reais for the chain's Assai cash-and-carry operation.

Reporting by Guillermo Parra-Bernal; editing by Diane Craft

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