Brazil’s Centauro lifts Netshoes buyout offer by 11%

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Jun 15, 2019 #Americas, #Brazil, #Company News, #Deals, #Department Stores (TRBC), #Emerging Market Countries, #Grains, #GRUPO, #Livestock, #Meals / Feeds / Pulses, #merger, #Mergers / Acquisitions / Takeovers, #NETSHOES, #sa, #SBF, #South America / Central America, #united states, #US

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SAO PAULO (Reuters) – Grupo SBF SA, operator of Brazil’s Centauro stores, again boosted its offer for online sports retailer Netshoes Cayman Ltd, this time to $4.10 per share, the latest move in a bidding war with Magazine Luiza SA.

According to a securities filing on Thursday night, the new offer raises the value of Grupo SBF’s bid to about $127.3 million, a 10.8% rise over the previous $3.70 per share bid. Earlier on Thursday, Magazine Luiza matched Centauro’s previous offer of $3.70.

Reporting by Gabriela Mello; Editing by Christian Plumb

Our Standards:The Thomson Reuters Trust Principles.

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