- 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”.
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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.
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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.