Cencosud Buys Into Brazil

Cencosud Buys Into Brazil

Brazil Chile M&A

Cencosud, Chile’s largest retailer by sales, has agreed to buy Brazilian supermarket operator Bretas for BRL1.35bn. Of the price, BRL1bn is due at closing, BRL100m at the end of 2011 and BRL250m at the end of 2014. The buyer says a BRL182m adjustment will be made for financial debt and working capital. According to Reuters, which cites the buyer, it will finance the purchase through bank debt totaling $290m, and the rest funded by cashflow. The target is a privately-held owner of 62 supermarkets

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