SAO PAULO, 30 (Reuters) – The Saint German Investment Fund, controlled by investor Nelson Tanure, requested that the GPA calls an extraordinary general meeting to dismiss the current board of directors and elect new members, including executives appointed by the entrepreneur himself.
The plan presented by Tanure provides for the election of a new council with nine members, of which three appointed by him, and a unified two -year mandate, according to a relevant fact released on Sunday (30).
In 2024, in the market and considered buying additional roles from the French group Casino, which in the past controlled the Brazilian retail network.
An initial expression of interest to Tanure representatives was then transmitted to the casino, which owns 22.5% of the retailer’s capital. But so far,
In a statement to Reuters, Tanure, known for investing in corporate restructuring processes, said he wants to reduce GPA debt through various strategies, including the sale of non -essential assets, investment reevaluation and prioritization and cash flow optimization.
“Focus on a solid balance will allow the company to have more flexibility in its operations and greater growth capacity”
The GPA ended the fourth quarter of 2024 with a net debt of R $ 1.3 billion, including the balance of unprecedented receivables.
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Tanure is also proposing that the group identifies and evaluates potential tax, legal and labor risks. “The idea is not only to mitigate risks, but also to promote an environment of transparency and confidence with shareholders and the general market.”
Tanure, currently the second largest individual shareholder of the GPA, after the casino, plans to indicate executives Pedro de Moraes Borba, Rodrigo Tostes Solon de Pontes and Sebastián Dario Los to the retailer’s board of directors.
Borba is a member of the Imbipar Council, a provider of environmental services in which Tanure invested. Pontes acts as a financial and investor relations director of Light, which Tanure acquired a few years ago, and Dario Los has long experience in the retail sector.
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The GPA operates about 700 stores, especially in the state of São Paulo, as well as e -commerce services, according to information on its website.
