21 de agosto de 2015 / 0:11 / hace 2 años

Brazil retailer GPA to pay $61 mln over Globex acquisition

1 MIN. DE LECTURA

SAO PAULO, Aug 20 (Reuters) - Brazilian retailer GPA SA said on Thursday it, along with holding company Wilkes Participacoes, would pay 212.46 million reais ($61 million) to Morzan Empreendimentos to settle arbitration over its takeover of home appliances retailer Globex.

Morzan Empreendimentos represented owners of Globex's Ponto Frio chain prior to its takeover by a subsidiary of GPA in 2009. The arbitration began in 2012.

$1 = 3.46 reais Reporting by Caroline Stauffer; Editing by Ken Wills

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