Ponto Frio Stake Up For Sale

The owners of Brazil’s Ponto Frio electronics retailer plan to sell their majority stake on the Bovespa, according to Brazil’s Estado de Sao Paulo, which cites board member Francisco Gros. Lily Safra and her son Carlos Monteverde will look to sell Globex Utilidades, which controls Ponto Frio, near the end of the first quarter. Credit Suisse is advising the controlling shareholders.