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L Catterton’s Brazil Supermarket Chain Is Said to Weigh IPO

  • St Marche hires banks for possible $159 million transaction
  • Arnault-backed L Catterton bought a majority stake in 2016

A Brazilian supermarket chain controlled by L Catterton, the private equity firm backed by French billionaire Bernard Arnault, has chosen banks for a potential initial public offering that could raise as much as 800 million reais ($159 million), people familiar with the matter said.

Sao Paulo-based Grupo St Marche is working with Banco Santander Brasil SA, Banco Itau BBA SA and Banco BTG Pactual SA for a possible listing on Brazil’s local exchange, the people said, asking not to be identified because the information isn’t public. Talks are still in early stages and the company could end up scrapping the transaction altogether, the people said.