PARIS — PPR SA on Tuesday took the first step toward fulfilling its aim to reconfigure its conglomerate business with the details of the spin off of CFAO, its African distribution unit, which could raise up to 1 billion euros, or $1.5 billion at current exchange.
The focus is now likely to shift to PPR’s eventual plans for its retail units — bookseller Fnac, home furnishings chain Conforama and mail-order business Redcats — which might be sold off to turn the company into a pure luxury goods and lifestyle player.
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