February 10, 2020 / 10:32 PM / 11 days ago

Carrefour Brasil says it is in talks to acquire stores operated by rival Makro

FILE PHOTO - The logo of France-based food retailer Carrefour is seen on shopping trolleys in Sao Paulo, Brazil July 18, 2017. REUTERS/Paulo Whitaker

SAO PAULO (Reuters) - Carrefour Brasil (CRFB3.SA) said in a filing on Monday it is in talks to acquire stores operated by rival retail chain Makro.

Carrefour denied reports by Brazilian media last week saying that it was acquiring Makro’s Brazilian subsidiary for 5 billion real ($1.16 billion). Carrefour said in the filing the deal value would be much lower.

Reporting by Tatiana Bautzer; Editing by Leslie Adler

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