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Brazil: Appliance chain deal cleared

 |  April 17, 2013

Brazil’s antitrust authority has approved of the nation’s largest retailer to buy Casas Bahia and Ponto Frio appliance chains. Pão de Açúcar first made the transaction in 2009, but has agreed to divest 74 stores – which accumulate 3 percent of its gross revenue – from its Viaverejo home appliance business, which was a result of the acquisitions. CADE, Brazil’s antitrust regulator, has ordered the company to also sell assets in 54 cities in the transaction.

Full Content: Reuters

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