Corporates · Brazil
—The shift. Investor Silvio Tini has become the single largest shareholder of GPA, the company behind Brazil’s Pão de Açúcar supermarkets.
—The stake. His holding company lifted its share to just under twenty-six percent, edging past the Coelho Diniz family.
—The trigger. Days earlier, shareholders voted to scrap a clause that would have forced a full buyout offer above a quarter of the shares.
—The backdrop. France’s Casino, the former controller, still holds about a fifth and is on its way out.
