Companhia Brasileira de Distribuicao : Material Fact - Authorization to launch a process of sale of the Company’s interest in Via Varejo’s capital stock

São Paulo, November 23, 2016 - Companhia Brasileira de Distribuição ('Company'), in addition to the Notice of Material Fact released on November 3, 2016, hereby informs its shareholders and the market that, in continuation to the process of evaluation of strategic alternatives to the Company's investment in Via Varejo S.A. ('Via Varejo') and based on the analysis presented by its advisors, at a meeting held today its Board of Directors authorized the management to launch a process of sale of the Company's interest in Via Varejo's capital stock, in line with its long-term strategy of focusing on the development of the food activity. The Company will inform the market again once the process is concluded or if there is a new resolution on the subject by its competent corporate bodies.

To access the Material Fact in PDF format,click here.