Carrefour to buy 30 stores in Brazil from rival Makro

This post was originally published on this site
https://i-invdn-com.akamaized.net/trkd-images/LYNXMPEG1F0AE_L.jpg

SAO PAULO (Reuters) – The Brazilian unit of France’s Carrefour SA (PA:) has agreed to buy 30 stores from rival retailer Makro’s Brazilian subsidiary, Makro said in a statement on Sunday.

After the deal, Makro will continue to operate in Brazil, but only with 24 stores in the country’s richest state, Sao Paulo. Makro, whose Latin American stores are owned by Netherlands-based SHV Holdings, did not disclose a transaction price.

In a securities filing last week, Carrefour confirmed talks to acquire the stores but denied Brazilian media reports it would acquire all of Makro’s Brazilian operations for $1.2 billion. The value of the deal would be substantially lower than that, the French retailer also said..

Makro said the sale, which is pending approval by domestic antitrust watchdog CADE, is aimed at making its Brazilian business more profitable.

($1 = 4.2981 reais)

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add Comment