September 15, 2021 |
Carrefour Brasil, the Brazilian subsidiary of French retailer Carrefour, plans to take out up to BRL2 billion ($381 million) in bank loans to finance the acquisition of Grupo BIG, a company source told LatinFinance on Tuesday.
Carrefour agreed in March to buy BIG from US private equity firm Advent International and retailer Walmart for BRL7 billion ($1.33 billion) in cash and shares. The company will rebrand some of the BIG stores as part of its whole division Atacadão, the source said.
French retailer's local subsidiary could take out $381 mln in loans with tenors up to three years