Brazilian retailer CBD and rival Casas Bahia have agreed new terms regarding their proposed merger, following months of renegotiations, according to local reports.

CBD and Casas Bahia announced the stock swap deal to create Brazil’s largest retailer in December. However, the companies had been unable to finalise the agreement.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

However, under the revised deal, the Klein family, Casas Bahia’s owners, will receive more cash annually for ceding part of their assets to the combined firm, and be allowed to exit the company in a shorter period and under better terms than originally agreed upon, Reuters reported on Friday (2 July).

It is understood CBD will invest US$387m into the unit, to be renamed Nova Casas Bahia, through the subscription of new stock.

The unit will be presided over by one member of the Klein family, owners of Casas Bahia, who will report to CBD’s board.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now