Wal-Mart aquires Sonae’s Brazilian retail group

Wal-Mart has acquired the Brazilian retail operations of Portuguese conglomerate Sonae for $757 million

Sonae’s Brazilian retail group includes 140 hypermarkets, supermarkets and wholesale units and employs about 20,000 workers.
Wal-Mart said the acquisition will improve its position as a national retailer in Brazil, expanding its presence to 17 of the country’s 26 states.
The Sonae purchase means Wal-Mart will operate more than 250 stores in 17 of Brazil’s 26 states. In 2004, Wal-Mart acquired the 118-store Bompreco chain in northeastern Brazil from Dutch retailer Royal Ahold NV.

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