French Carrefour in talks to acquire Brazilian Makro
February 10 , 2020
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France's powerhouse retailer Carrefour's unit in Brazil is in the advanced stages of talks with retail chain Makro, reports Reuters. Final steps are to be announced next week.
The Netherlands-controlled Makro belongs to SHV Holdings. Local Brazilian newspaper O Estado de S. Paulo said that insiders cite that the deal is close to coming into fruition. The source said that the potential agreement is worth around US$1.2 billion.
Although Carrefour Brazil and Makro declined to speak to press at this time, developments will be monitored in upcoming weeks.
To read the full report, click here.
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