Brazilian retailer CBD confirmed today (12 May) that negotiations over its proposed acquisition of Casas Bahia are “back on track”.
A spokesperson for the group told just-food that, while the negotiations between the two groups’ leading shareholders are still ongoing, some “headway” had been made.
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“We are optimistic that a deal is nearing,” the spokesperson said.
According to a Reuters report, CBD chairman Abilio Diniz said that the interested parties had reached an agreement on the “most relevant” points of the deal.
“We are still negotiating, but on points that aren’t as relevant,” he said.
CBD and Casas Bahia announced the stock swap deal to create Brazil’s largest retailer in December. However, the companies have as yet been unable to finalise the agreement.
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