Carrefour to keep capex below $70mn in Makro conversion to Atacadão

Carrefour Brasil SA expects to keep capital expenditure to convert 30 stores acquired from smaller rival Makro into its Atacadão wholesale format below R$300 million ($68.41 million). After local antitrust regulator Cade approves the recent acquisition, it should take three to six months to reopen each store as Atacadão, Roberto Müssnich, who leads Carrefour Brazil’s wholesale unit said. Müssnich and CFO Sébastien Durchon have also noted that Carrefour Brasil is open to considering an acquisition of GPA’s hypermarkets, though they are not up for sale.

Source: Reuters