Davis Polk instructed on Cnova Brazil reorganization
Davis Polk advised the Via Varejo Special Committee in the reorganization of Cnova Brazil.
Cnova Brazil is an e-commerce company which operates the Extra.com.br, Pontofrio.com and Casasbahia.com.br websites. It is a division of Cnova, a subsidiary of Groupe Casino. Via Varejo is a Brazilian retail company, owned by Grupo Pão de Açúcar. The company manages two major Brazilian retailers, Casas Bahia and Pontofrio.
As a result of the reorganization, Via Varejo will become the sole shareholder of Cnova Brazil. The reorganization is expected to be completed in the fourth quarter of 2016.
Davis Polk lawyers in the New York, São Paulo and London offices teamed up to act for the Via Varejo Special Committee. Partners Manuel Garciadiaz, H. Oliver Smith, John D. Amorosi, James H.R. Windels were at the helm of the Davis Polk squad.