Advent to Invest $485M in Walmart Operations in Brazil

8/28/18

Advent International, the private equity firm that acquired 80 percent of Walmart Inc (WMT.N) ‘s Brazilian operations, is going to invest 1.9 billion reais ($485.66 million) in the existing stores as part of an agreement with the world’s biggest retailer, according to a document published in Brazil’s official gazette.

In June, Walmart announced it sold an 80 percent stake in its Brazilian operations to Advent, partially exiting an underperforming business and taking a non-cash charge of roughly $4.5 billion.

Advent is deploying the money in three installments, the document released last week showed. The first two capital raises will total 750 million reais each. The first was already completed and the second is expected for next year. The remaining amount will be invested by 2021, the document said.

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