According to a report from Reuters, Brazil’s antitrust watchdog Cade on Friday approved buyout firm Advent International’s acquisition of Walmart’s Brazilian operations, and sought no additional asset sales.
Earlier this month, Walmart agreed to sell an 80% stake of its Brazilian unit to Advent, partially exiting an underperforming business and recording a noncash charge of roughly US$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.
Full Content: Reuters
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