Carrefour puts up $1.2 bln for Grupo BIG in Brazil

Carrefour puts up $1.2 bln for Grupo BIG in Brazil

Corporate & Sovereign Strategy Equity M&A Latin America South America Brazil France Commerce Retail shopping

French supermarket chain Carrefour said Wednesday that it agreed to buy Brazil's Grupo BIG from US private equity firm Advent International and retailer Walmart in a cash and stock transaction worth BRL7 billion ($1.24 billion). Carrefour will pay 70% in cash and issue new shares to cover the other 30%, it said in a press release. Upon closing the deal, the French company will reduce its stake in its Brazilian subsidiary, Carrefour Brasil, to 67.7% from 71.6%, it added. The acquisition of BIG, t

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