Food retailer GPA puts petrol stations up for sale

Brazilian food retailer GPA SA has put its network of petrol stations up for sale. Sources confirmed an earlier report 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 currently owns 123 stores across Brazil and 72 petrol stations with the brands Ipiranga and Raizen.

Source: Reuters

Categories: Business

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