Nova Pontocom, the online unit of GPA, had about $2 billion in sales last year on websites serving the Brazilian market. Media representatives for Morgan Stanley and J.P.Morgan in New York had no comment.Īccording to the filing, the transaction intends to combine Casino's e-commerce assets into an international holding company initially known as NewCo, while seeking to maintain the efficiencies of its joint e-commerce and bricks-and-mortar business. Casino officials in Brazil could not immediately be reached for comment. GPA's press office declined to comment on specifics of its plans. The decision comes after Casino undertook a deep restructuring of its Brazilian businesses following the departure of long-time partner Abilio Diniz from GPA less than a year ago.
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