GPA chairman says Via Varejo share conversion positive to shareholders

SAO PAULO, July 23 (Reuters) – The chairman of Brazilian retailer GPA SA, Ronaldo Iabrudi, said the conversion of all shares of its subsidiary Via Varejo SA into a single class of stock will give additional rights to minority shareholders.

In a phone interview on Monday, Iabrudi said that after the conversion, GPA will hold 43.3 percent of shares in Via Varejo. Today, with the different stock classes, GPA owns 51 percent of the voting stock. (Reporting by Tatiana Bautzer Editing by Leslie Adler)

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