Search
 

Sonae SGPS Sells Brazilian Supermarket Business to Wal-Mart

PORTO ALEGRE, BRAZIL-The $757-million deal (euro 635 million) includes 140 hypermarkets, supermarkets and wholesale stores in the country. In 2004, Wal-Mart acquired the 118-store Bompreco chain in northeastern Brazil from Dutch retailer Ahold. B

By Brian K. Miller | Updated on December 14, 2005

(For more retail coverage, click GlobeSt.com/RETAIL.)

PORTO ALEGRE, BRAZIL- Modelo Investimentos Brasil SA, a unit of Modelo Continente SGPS SA, the retailing division of locally based conglomerate Sonae SGPS, has sold its supermarket business in Brazil to Wal-Mart Stores Inc. The $757-million (euro 635 million) transaction nets Wal-Mart 140 hypermarkets, supermarkets and wholesale stores in the country.

The supermarket business unit that changed hands was called Sonae Distribuicao Brasil SA. It has 20,000 employees and operations in Sao Paulo and in three states in southern Brazil–Rio Grande do Sul, Santa Catarina and Parana.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.