Brazil retailer GPA to pay $61 mln over Globex acquisition
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)
© Thomson Reuters 2016 All rights reserved.