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Reuters
Published
Jun 3, 2016
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Brazil's Restoque begins talks with Inbrands over potential tie-up

By
Reuters
Published
Jun 3, 2016

Brazil's Restoque Comércio e Confecções de Roupas has began talks with rival Inbrands over a potential tie-up. The merger would create a leading apparel retailer with 2.8 billion reais ($781 million) in annual combined revenue and around 730 stores.


Brazil retail groups Restoque and Inbrands are in merger talks - Foto: Bo.Bô


In a securities filing, Restoque said that both companies signed on Thursday a memorandum of understanding to explore a potential merger.

A two-week period for due diligence was agreed upon, the filing said, adding the combined entity would issue new shares once the deal is announced.
 

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