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Centauro and Magazine Luiza in Bidding War for Brazilian Netshoes

By Richard Mann, Contributing Reporter

RIO DE JANEIRO, BRAZIL - Retailer group SBF, owner of the Centauro store chain, raised its proposal to buy Netshoes. In a market communication, the group advised that it has raised its offer to around US$108,7 (R$435) million, the equivalent to US$3.50 per share.

The new offer comes after Magazine Luiza has also announced an increase from its initial proposal to US$93 million, equivalent to US$3 per share.

Attempting to win the race against Magazine Luiza, Centauro stated that it also proposed to structure a transaction that would enable . . .

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