Carrefour buys Brazilian retailer

The world's second largest retailer, Carrefour, has agreed to buy Brazilian discount store group Atacadao. Read original article

Under the 825m-euro (£559m; $1.1bn) deal, the French firm will acquire Atacadao's 34 discount hypermarkets and 214,000 square meters of real estate.

The acquisition will make Carrefour Brazil's leading retailer by sales.

Carrefour, which currently operates more than 400 stores in Brazil, said the deal would help it "accelerate its organic growth programme".

The firm currently operates 109 hypermarkets, 34 Biarro supermarkets and 258 Dia hard discount stores in Brazil. Read more