French Carrefour in talks to acquire Brazilian Makro
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.
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