Walmart-Advent deal gets Brazil antitrust nod
Reuters
Published Jun 22, 2018 08:50AM ET
Updated Jun 22, 2018 09:00AM ET
Walmart-Advent deal gets Brazil antitrust nod
SAO PAULO (Reuters) - Brazil's antitrust watchdog Cade on Friday approved buyout firm Advent International's acquisition of Walmart Inc's (N:WMT) Brazilian operations, and sought no additional asset sales.
Earlier this month, Walmart agreed to sell an 80 percent stake of its Brazilin unit to Advent, partially exiting an underperforming business and recording a noncash charge of roughly $4.5 billion.
Advent plans to convert unprofitable hypermarkets into cash-and-carry wholesale stores and expand brands developed by Walmart in Brazil such as Maxxi and Todo Dia.
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Written By: Reuters
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