Cnova N.V. said Groupe Casino has offered to acquire for cash all the outstanding ordinary shares of Cnova for $5.50 a share.

The company said Groupe Casino has made a similar offer in France, and the appropriate filings would be completed with the respective regulatory agencies in the U.S. and in France.

The U.S. offer will expire at 5:00 p.m. Eastern time on Jan. 25. The U.S. offer is 62 percent over the closing price of Cnova ordinary shares on the Nasdaq on May 11, the day before the announcement of the entry into a nonbinding memorandum of understanding of the transactions.

The two offers are in connection with the reorganization of Cnova’s former Brazilian subsidiary within Via Varejo S.A. on Oct. 31. The Cnova transaction committee and the Cnova board of directors are in support of both offers.

Cnova N.V. is one of the leading e-commerce firms in France, with 7.9 million active customers through its web site, Cdiscount. The company is part of Groupe Casino, a global diversified retailer. Groupe Casino, a French publicly listed company, has primary operations in France and Brazil.

Cnova completed its initial public offering in November 2014 on the Nasdaq, and was one of the three top foreign firms – the other two were and – that completed IPOs in 2014 on American exchanges. At the time of its IPO it had a market capitalization in the $5.8 billion range.