February 20, 2018 / 3:40 PM / 2 years ago

Brazil's GPA keeps Via Varejo on block, maintains food retail focus

SAO PAULO, Feb 20 (Reuters) - GPA SA, one of Brazil’s leading retailers, will continue to focus exclusively on its food business and is still looking for buyers for its appliance and electronics unit Via Varejo SA, the company’s chief executive said on Tuesday.

“We did another evaluation of our assets in November, and we maintained the strong conviction to focus on food retail. It has enormous growth opportunities,” Ronaldo Iabrudi said in a conversation with analysts following the release of fourth quarter results.

Via Varejo has been on the block since late 2016. (Reporting by Gram Slattery and Alberto Alerigi Jr.)

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