FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of May, 1999
Brazilian Distribution Company (Companhia Brasileira de Distribuicao - CBD)
(Translation of Registrant's Name Into English)
Av. Brigadeiro Luiz Antonio,
3126 Sao Paulo, SP 01402-901
Brazil
(Address of Principal Executive Offices)
(Indicate by check mark whether the registrant files or will file
annual reports under cover of Form 20-F or Form 40-F.)
Form 20-F [X] Form 40-F [ ]
(Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)
Yes [ ] No [X]
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
COMPANHIA BRASILEIRA DE DISTRIBUICAO
Date: May 6, 1999 By: /s/ Augusto Marques da Cruz Filho
-----------------------------------------
Name: Augusto Marques da Cruz Filho
Title: Chief Financial Officer
By: /s/ Ricardo Florence dos Santos
-----------------------------------------
Name: Ricardo Florence dos Santos
Title: Market Relations Officer
LOGO COMPANHIA BRASILEIRA DE DISTRIBUICAO
Grupo Pao de Acucar
For additional information please contact:
Ricardo Florence dos Santos David Carey / Rosemary Otero
Companhia Brasileira de Distribuicao Edelman Financial
(55-11) 886-0421 (212) 704-4449 / 4486
[email protected] [email protected]
COMPANHIA BRASILEIRA DE DISTRIBUICAO (CBD)
TO OPERATE PAES MENDONCA STORES
Sao Paulo, Brazil, May 4, 1999 - Companhia Brasileira de Distribuicao (NYSE:CBD,
BOVESPA:PCAR4) today announced that it has signed an agreement with Brazilian
retailer Paes Mendonca S.A., to operate the company's 25 supermarkets and
hypermarkets.
Under the terms of the agreement, Pao de Acucar Group will lease the assets and
operating equipment of Paes Mendonca through a newly created company for a
five-year period, with the option to renew the lease for two additional
five-year periods.
Paes Mendonca had gross revenues of R$829.2 million in 1998 and was ranked the
7th largest food retailer in Brazil at the end of the year. The company operates
18 stores in the State of Rio de Janeiro. Six stores are located in Sao Paulo
State and one in Belo Horizonte, capital of the state of Minas Gerais.
Abilio Diniz, President of CBD said "This agreement is an opportunity for CBD to
strengthen its leadership position in Sao Paulo state and increase its presence
in Rio de Janeiro and Belo Horizonte. These stores are strategically located in
key markets for CBD and will allow us to increase our competitiveness."
CBD plans to convert all 25 Paes Mendonca stores into CBD's three food store
formats, eliminating the Paes Mendonca brand. The Company estimates that the
total investment for remodeling and renovating to be between R$40-50 million.
Companhia Brasileira de Distribuicao operates a total of 321 stores in 11
Brazilian states through three formats. In addition to the Pao de Acucar and
Barateiro supermarket divisions, the Company operates Extra hypermarkets and
Eletro home appliance stores.
http: //www.grupopaodeacucar.com.br
