Casino-owned retailer CBD is eyeing up acquisition prospects after receiving a BRL600m (£178m) funding injection.
Brazilian bank Itaú Unibanco granted CBD the money after the bank sought to relax a consumer finance venture with the retailer. The bank, which has similar relationships with other Brazilian retailers, wanted to end exclusivity clauses locked into the venture.
CBD chief financial officer Enéas Pestana told Brazilian daily Valor Economico the group now had “more tranquillity to invest”.
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