Cencosud seals deal for Brazilian retailer

Cencosud seals deal for Brazilian retailer

M&A Corporate & Sovereign Strategy Chile Brazil Commerce Retail shopping

Chile's Cencosud, one of the largest retailers in Latin America, said it inked a deal to acquire Brazilian cash-and-carry chain Giga Atacado for BRL500 million ($98.8 million), giving the company a foothold in the state of São Paulo. Under the deal, Cencosud will buy 100% of Giga BR Distribuidor e Atacadista and its shareholder AFN Participacoes from Grupo Giga, according to a securities filing in Chile. Giga has 10 stores in the state of São Paulo and generates annual sales of more than BRL1.5

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