by 2 minutes Read this article (Adds comment from Peninsula head Diniz) Reuters, RIO DE JANEIRO, July 8 – GPA, a Brazilian food retailer, said in a securities statement on Thursday that it has settled an arbitration dispute with the real estate arm of Brazilian investment firm Peninsula, without disclosing the terms of the agreement. In 2017, the Fundo de Investimento Imobiliario Peninsula filed a claim in arbitration against GPA, a subsidiary of Casino Guichard Perrachon SA in France. According to GPA, the disagreement involved long-term leases on 60 Peninsula homes. “The settlement agreement agreed by GPA and Peninsula handled earlier issues and strengthened the Contracts,” GPA said in the filing, “maintaining long-term leases with enhanced new regulations more appropriate to current market conditions.” Peninsula is the family office of the Diniz family of Brazil, which formed GPA but sold its shares a few years ago. In a statement, Abilio Diniz, the retail mogul and son of the GPA founder, stated, “We are glad that we achieved a favorable solution for all sides and, with that, we are stopping the arbitration that was proceeding.” (Gram Slattery contributed reporting; Mark Potter and Dan Grebler edited the piece.) )/n
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