A PYMNTS Company

Brazil: Merger gives online retailer B2W new backing

 |  January 28, 2014

New York-based hedge fund Tiger Global Management announced it has reached an agreement to pump nearly $520 million into Brazil-based online retailer B2W Companhia Digital, say reports, in an acquisition the fund will make in partnership with B2W parent company Lojas Americanas.

Reports say Tiger and Lojas Americanas will together acquire up to 95.2 million shares; Lojas Americanas currently owns 92.23 percent of B2W. Lojas Americanas will likely remain the controlling company of the online retailer following the merger.

Brazil’s antitrust authority CADE will need to approve the deal.

Full Content: DealBook

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.