Lojas Le Biscuit announced on Friday night (11) a business combination with Casa & Vídeo, which it hopes will create one of “the largest retail companies in Brazil”.
The transaction involves the merger of shares of Casa & Vídeo into Le Biscuit. After that, Casa & Vídeo will hold 74.8% of Le Biscuit’s capital, which in turn will hold the remaining 25.2%.
According to a material fact, the combined company will serve more than 35 million customers per year, with almost 400 physical stores and digital sales, with revenues of R$ 2.6 billion in the last 12 months.
“The merger of the companies will provide scale gains, increased efficiency and greater investment capacity”, says an excerpt from the document, explaining that, to complete the deal, Le Biscuit shareholders promised to approve a capital increase of R$ 125 million.
Source: CNN Brasil
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