Shares of Brazilian drugstore chain Pague Menos opened 12% higher after Reuters broke the news that the company had reached a deal to buy rival Extrafarma for 600 million reais ($115 million). Pague Menos, which is backed by U.S. private equity firm General Atlantic, later confirmed the talks in a securities filing. The deal would make Pague Menos Brazil’s second biggest drugstore retailer behind Raia Drogasil SA. It is currently ranked third.
Business & FinanceDeals
Reuters reports exclusively on Brazil drugstore deal, Pague Menos shares jump
18 May 2021, 7:18 pm 1 minute
Article Tags
Topics of Interest: Business & FinanceDeals
Type: Reuters Best
Sectors: Business & FinanceEquities
Regions: Emerging MarketsSouth America
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story