Via Varejo Readies Follow-on

Via Varejo is planning to hold an equity follow-on including both primary and secondary shares, it says, and has taken the initial regulatory steps. It does not indicate the size or timing, though the Klein family indicated last month that it planned to sell 16% of the Brazilian retailer in a public offering. Via Varejo says the planned sale is to include units representing one common and two preferred shares. Bradesco and Credit Suisse have been hired to manage. The Kleins own 47% of Via Varejo, which runs the Casas Bahia and Ponto Frio stores.