March 25, 2021 |
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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