Abilio Diniz, Billionaire Brazil Retail Pioneer, Dies at 87
- Lost control of Pao de Acucar retail chain to France’s Casino
- Through family office, is second-biggest Carrefour shareholder
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Abilio Diniz, the acclaimed Brazilian business leader who grew his family retail business into a giant, lost control of it, then became a major shareholder in a rival company, has died. He was 87.
Diniz died at a hospital in Sao Paulo, where he was being treated for respiratory failure caused by pneumonia, a spokesperson for his family and investment firm said on Sunday.