Carrefour Brazil Announces Acquisition Of Grupo BIG

(RTTNews) - Grupo Carrefour Brasil has agreed with Advent International and Walmart for the acquisition of Grupo BIG Brasil SA, Brazil's third-biggest food retailer. The deal values Grupo BIG at an enterprise value of approximately 1.1 billion euros. The acquisition will be realized 70% in cash and 30% through newly issued Carrefour Brazil shares.

Upon completion of the transaction, Carrefour Group (CRERF.PK, CRRFY.PK, 0NPH.L) will own around 67.7% of Carrefour Brazil, Península Participações 7.2% and Advent International and Walmart, through affiliates, 5.6% combined.

Grupo BIG (formerly Walmart Brazil) operates a multi-format network of 387 stores. It has a presence in 19 states, with a larger footprint in the southern and northeastern regions of Brazil.