Advent in talks to buy 50% of Wal-Mart's Brazilian unit: Report


Walmart to give $1K bonuses to employees, citing Trump’s tax cuts

Conservative Review host Deneen Borelli, New York City minority whip Joe Borelli and radio show host Ben Kissel discuss how the benefits from the GOP tax reform plan -- including a number of companies that have announced they’ll offer employees $1,000 bonuses -- could affect Republicans running in the 2018 midterm elections.

SAO PAULO (Reuters) - Private equity firm Advent is in talks to buy 50 percent of Wal-Mart Stores Inc's (NYSE:WMT) operations in Brazil, according to a report in Brazil's O Globo newspaper on Sunday.

Continue Reading Below

Wal-Mart operates in 18 Brazilian states with 471 stores, according to the company's local website. The company's Brazilian unit reported revenues of almost 30 billion reais ($9.39 billion) in 2016.

Efforts to reach Advent's local office in Sao Paulo and press representatives of Wal-Mart in Brazil on Sunday were unsuccessful.

More on this...

O Globo did not provide a source or any details on the state of the talks or possible value of an eventual deal.

Retail sales in Brazil are starting to recover from a two-year recession. Christmas sales were 5.6 percent higher than a year ago, according to credit data supplier Serasa Experian.

(Reporting by Marcelo Teixeira; Editing by Paul Simao)

Continue Reading Below

What do you think?

Click the button below to comment on this article.