Brazilian businessman Abilio Deniz, owner of the Pao de Acucar group, has closed a deal to buy the 62 supermarkets in the Se chain, owned by the Portuguese retailer Jeronimo Martins.
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The Pao de Acucar group was the last to present Jeronimo with a deal, sources told the Gazeta Mercantil. French giant Carrefour, Britain’s Tesco and local firm Brazilian GP Investimentos were also courting the chain.
The total amount padi for the chain has not been disclosed, but it is thought to have been well under R$500m (US$171.8m), the estimated value of the grocer.
