Arezzo shares rise on Reserva acquisition

Arezzo shares rise on Reserva acquisition

Capital Markets Equity Corporate & Sovereign Strategy M&A Brazil Latin America

Shares in Arezzo&Co jumped on Friday after the Brazilian footwear company announced it had agreed to acquire fashion retailer Reserva in a cash-and-stock deal worth BRL715 million ($127 million). Arezzo's shares rose 16% to end the week at BRL61.00 as the shoe company marked its first foray into the clothing market. "[I]n addition to footwear and bags, Arezzo&Co will start selling men's, women's and children's fashion items, including clothing and accessories, with the possibility of exp

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