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)