Deals
Carrefour to Buy Walmart’s Former Business in Brazil
- Advent, Walmart agree to sell Grupo BIG to Carrefour
- French retailer goes on offensive after failed takeover bid
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Carrefour SA is buying Walmart Inc.’s former Brazil unit to cement its position as the country’s largest supermarket operator two months after being the target of a failed takeover bid.
Advent International and Walmart agreed to sell Grupo BIG Brasil SA for about 1.1 billion euros ($1.3 billion), Carrefour said Wednesday. Brazil is already the French retailer’s second-largest market, and the deal would make that business almost as big as its European operations outside of France.