Carrefour: acquisition of Grupo BIG Brasil
(CercleFinance.com) - Carrefour has announced that it has reached an agreement with Advent International and Walmart to acquire Grupo BIG Brasil, the third largest food retailer in Brazil, for an enterprise value of approximately 1.
1 billion euros.
Carrefour said that Grupo BIG operates a multi-format network of 387 shops and reported sales including VAT of 24.9 billion Brazilian reis (c. 3.81 billion euros) (21.7 billion Brazilian reis excluding VAT) and adjusted EBITDA of 928 million Brazilian reis (c. 142 million euros) in 2020.
The transaction remains subject to approval by the Brazilian Competition Authority (CADE), along with that of Carrefour Brazil's shareholders, as well as customary conditions. It is due to be completed in 2022.
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1 billion euros.
Carrefour said that Grupo BIG operates a multi-format network of 387 shops and reported sales including VAT of 24.9 billion Brazilian reis (c. 3.81 billion euros) (21.7 billion Brazilian reis excluding VAT) and adjusted EBITDA of 928 million Brazilian reis (c. 142 million euros) in 2020.
The transaction remains subject to approval by the Brazilian Competition Authority (CADE), along with that of Carrefour Brazil's shareholders, as well as customary conditions. It is due to be completed in 2022.
Copyright (c) 2021 CercleFinance.com. All rights reserved.