Muffato acquires Makro stores

Muffato acquires Makro stores

Corporate & Sovereign Strategy Equity M&A Brazil Capital Markets Commerce Retail shopping Europe Netherlands

Brazilian retailer Muffato said it agreed to buy assets from Dutch-owned Makro, including 16 stores and 11 service stations in the state of São Paulo. Muffato did not disclose the purchase price, but local press reports said the deal was worth between BRL800 million and BRL1.1 billion ($157 million and $215 million). Muffato also did not say how it intends to finance the deal, but a source close to the company said an initial public offering (IPO) "was not a taboo" but is not in the plans "for t

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