- The companies announced in mid-February that they were studying a combination of their operations;
- The company will be renamed “Americanas”.
Brazil‘s e-commerce and brick-and-mortar retailer Americanas and Lojas Americanas announced on Monday that they are evaluating merging their operations ahead of a planned listing of the group on Nasdaq.
According to a material fact, the companies “have identified an opportunity for corporate reorganization before the International listing, combining in Brazil the companies’ respective shareholder bases in Brazil‘s stock exchange”.
The companies announced in mid-February that they were studying a combination of their operations as the impacts of social insulation measures catapulted e-commerce in the country.
On Monday morning, Lojas Americanas shares jumped 19% and Americanas shares were up 3% on the Brazilian stock exchange with the announcement of the evaluation of the merger of the operations ahead of a planned listing of the group on Nasdaq. In a note to clients, Bradesco BBI assessed that the merger improves governance by having only one class of shares and simplifies the structure, as Lojas Americanas will likely be extinguished as a holding company.
The companies had officially announced the merger plan in April, a proposal that includes eventual listing in the United States through migration of the company’s shareholder base, to be called Americanas.