Pao de Acucar

Even Abilio Diniz, Brazil’s 76-year-old retail tycoon and fitness fanatic, knows when to call it a day.

After years of fighting for the company his father founded, on Friday he sold a third of his preferential shares in Pão de Açúcar worth R$1.5bn ($736) – well, that is according to one person close to the transaction and local media reportsRead more >>