June 13, 2019 / 9:14 PM / 2 days ago

Brazil's Centauro lifts Netshoes buyout offer by 11%

SAO PAULO, June 13 (Reuters) - Grupo SBF SA, operator of Brazil’s Centauro stores, again boosted its offer for online sports retailer Netshoes Cayman Ltd, this time to $4.10 per share, the latest move in a bidding war with Magazine Luiza SA.

According to a securities filing on Thursday night, the new offer raises the value of Grupo SBF’s bid to about $127.3 million, a 10.8% rise over the previous $3.70 per share bid. Earlier on Thursday, Magazine Luiza matched Centauro’s previous offer of $3.70. (Reporting by Gabriela Mello; Editing by Christian Plumb)

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