French retailer group Casino said on Monday that the nationalization by the government of Hugo Chávez of its subsidiary Éxito stores in Venezuela, which is also owned by a Colombian company, "changes nothing for the growth outlook and profitability of the group," a spokesperson of the company said.
Éxito, which is located in Venezuela, represents "about 1 percent" of the current turnover of the French retailer and the contribution of the Venezuelan unit to the group profit was "almost zero," said the source.
Questioned about whether the group would file any legal complaint, the source said that the company "is assessing the situation."
Casino owns 67.1 percent of Cativen, a subsidiary which operates six Exito hypermarkets and around 35 Cada supermarkets in Venezuela.
HYCROCARBONS Venezuela prepares to face "difficult times" following a slump in crude oil prices, stated on Wednesday the President of state-run oil holding Petróleos de Venezuela (Pdvsa), Eulogio Del Pino in an oil conference in Margarita Island, eastern Venezuela.
HYDROCARBONS World major oil producers are concerned about current oil prices, according to Venezuela's Minister of Foreign Affairs Rafael Ramírez, following a meeting on Tuesday in Vienna with representatives of Saudi Arabia, Russia and Mexico.
HYCROCARBONS Representatives of Venezuela, Mexico and Russia met in Vienna to coordinate their position two days ahead of a crucial OPEC meeting, in the context of a dramatic fall in oil prices.