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Brazilian investor Tanure to name one GPA board member instead of three, source says 
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Brazilian investor Tanure to name one GPA board member instead of three, source says 
May 26, 2025 1:15 AM

May 5 (Reuters) - An investment fund controlled by

Brazilian investor Nelson Tanure is expected to appoint just one

member to the board of retail chain Grupo Pao de Açucar (GPA) at

a shareholder meeting on Monday, a source with knowledge of the

matter told Reuters.

Tanure, who now owns about 7% of GPA's (PCAR3.SA) shares,

had requested the removal of the previous board of directors

earlier this year and election of new members, including three

representatives appointed by him.

However, other groups of investors who were not represented

on the board decided to appoint members to the board as well,

diluting support for Tanure's appointees, the source added.

As a result, Tanure was expected to withdraw the names of

two other people he had nominated.

Tanure declined to comment.

GPA did not immediately respond to a request for comment.

Last year, Tanure acquired GPA shares on the market and has

since been interested in buying additional securities from

French group Casino, as Reuters reported in March.

(Reporting by Luciana Magalhaes and Patricia Vilas Boas;

Editing by Manuela Andreoni and Emelia Sithole-Matarise)

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