BRAZIL: CBD to take control of Sendas supermarket chain
Brazilian retailer Companhia Brasileira de Distribuicao (CBD) has said it has negotiated a deal to merge with 78-store supermarket chain Sendas in Rio de Janeiro.
CBD, which is often known by the names of its flagship supermarket chain Pao de Acucar, did not provide information on how big a stake it will take in Sendas, reported Dow Jones International News.
Sendas is the leading retailer in Rio de Janeiro, Brazil's second-biggest city, while CBD operates less than 50 stores there. Sendas recorded sales of BRL2.5bn (US$0.85bn) last year, while CBD's sales were more than BRL11bn.
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