STXNEWS LATAM-Lojas Americanas gets $549 mln loan from Brazil's BNDES

lunes 7 de julio de 2014 15:49 GYT

Lojas Americanas SA, Brazil's biggest low-cost retailer, will receive a 1.22 billion reais ($549 million) loan from state development bank BNDES to open new stores, reform old ones, expand its distribution network and install online retail kiosks in its physical stores through the end of 2015.

BNDES announced the loan in a Monday press release shortly after announcing 1.46 billion reais in financing for the e-commerce subsidiary of Lojas Americanas, known as B2W .

($1 = 2.22 Brazilian reals) (Editing by Marguerita Choy)