January 9, 2020 / 5:18 PM / 10 days ago

Brazilian food retailer GPA puts gas stations up for sale- source

SAO PAULO, Jan 9 (Reuters) - Brazilian food retailer GPA SA has put its network of gas stations up for sale, one source with knowledge of the matter said on Thursday.

The source confirmed a report earlier on Thursday by Brazilian financial blog Brazil Journal, which said GPA may fetch up to 1 billion reais ($245 million) for the gas stations and that Banco Bradesco’s investment banking unit has the mandate. GPA press representatives did not immediately comment on the matter ($1 = 4.0766 reais) (Reporting by Tatiana Bautzer and Gabriela Mello Editing by Chizu Nomiyama)

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