Investors in Brazil seemed to approve Wednesday of the announcement that Casino, the French supermarket chain, will increase its stake in CBD, Brazil’s largest retailer.

Casino will also take joint control of CBD. Preferred shares of the company on the Sao Paulo stock exchange gained 5.7 percent after the news was announced.

The deal, which is costing Casino €407 million ($527 million), will buy Casino a 50 percent share of voting rights in the company as well as a 68.8 percent stake of the capital in the holding company that now controls CBD.

The family of Abilio Diniz, which is the current principal shareholder in CBD, will keep the remaining 50 percent of voting shares. Mr. Diniz will remain chairman of the board of CBO. He will also become chairman of its holding company.

Casino will have equal representation on the two boards and will increase its operational management involvement in the company. It’s direct economic state in CBD will rise from 27.4 percent to 34.4 percent.