Business & FinanceDeals

Reuters reports exclusively on Brazil drugstore deal, Pague Menos shares jump

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.

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
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