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Carrefour's Brazil IPO to Hand Banks Highest Fees in Eight Years

  • French grocer’s payout expected to reach about $42 million
  • IPOs in 2017 already top total for prior three years combined
Carrefour in Barra da Tijuca, Rio, Brazil.

Carrefour in Barra da Tijuca, Rio, Brazil.

Photographer:Viviane Moos/Corbis via Getty Images

Brazil’s long-suffering IPO bankers are headed toward their biggest payday in eight years.

This month’s initial public offering for Carrefour SA’s Brazil unit will generate almost 140 million reais ($42 million) in fees for a group of local and international banks, based on a regulatory filing from the French grocery company. That tops the 119 million reais paid by BB Seguridade Participacoes SA for its 11-billion-real IPO in 2013 and is the most for a deal bigger than $1 billion since October 2009.