Canada's CPPIB cuts stakes in Brazilian firms Allos, Azzas 2154

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Canada's pension fund CPPIB sold nearly 35 million shares of mall operator Allos BMFBOVESPA:ALOS3 and fashion retailer Azzas 2154 BMFBOVESPA:AZZA3, according to securities filings from the two Brazilian companies on Friday.CPPIB's stake in Allos was reduced by about 24.6 million shares, to 9%. The fund remains the biggest shareholder in the firm.Regarding Azzas 2154, CPPIB sold 10.1 million shares, reducing its stake to 1 million shares.CPPIB said that its stake in Azzas 2154 no longer exceeds 5% following the sale, without providing more detail. The financial terms of the sales were not disclosed.Local news outlet Brazil Journal reported that the pension plan raised about 1 billion reais ($183.9 million) with the sales executed through block trades.($1 = 5.4390 reais)

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