Joint Venture Agreement between Globex and Casas Bahia
The managements of Companhia Brasileira de Distribuição (“CBD”) and Globex Utilidades S.A. (“Globex”), pursuant to CVM Instruction 358/02 and in view of news published by the media, hereby announce that Casa Bahia Comercial Ltda. and its partners (“Casa Bahia”) declared their intention to review the joint venture purpose of the Agreement entered into on December 4, 2009.
CBD and Globex believe that the Joint Venture Agreement that was executed is valid and perfectly effective, having declared their willingness to continue with discussions in order to reach an understanding and ensure the implementation of the Joint Venture.
CBD and Globex will keep the market informed of any further developments.
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