December 5, 2018 / 7:52 PM / 9 days ago

Brazil's GPA plans to raise capex by 12.5 pct in 2019 -CEO

SAO PAULO, Dec 5 (Reuters) - Brazilian retailer GPA SA plans to raise capital expenditures by 12.5 percent next year, to 1.8 billion reais ($466 million), Chief Executive Officer Peter Esterman told reporters on Wednesday.

The retailer controlled by France’s Casino Guichard Perrachon SA will concentrate in expanding its wholesale brand Assai and resume growth of its premium brand Pao de Acucar. Estermann expects the Brazilian economy to pick up growth if the newly elected government is able to approve key macroeconomic reforms. ($1 = 3.8637 reais) (Reporting by Gabriela Mello; writing by Tatiana Bautzer; editing by Jonathan Oatis)

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