Wal-Mart to Acquire Market Chain in Brazil
From Associated Press
Wal-Mart Stores Inc. boosted its presence in Latin America, agreeing to buy 140 Brazilian supermarkets and wholesale outlets from a Portuguese conglomerate.
The purchase from Sonae, valued at 635 million euros ($762 million), would fit into Wal-Mart’s strategy of rapid overseas growth.
“We will continue to be opportunistic and look at both organic growth and mergers and acquisitions opportunities around the world,” said Craig Herket, president of Wal-Mart Americas, at a news conference.
