Acquisition of Grupo BIG
...through a 30% stock component in the offer and an
additional cash payment based on our share's appreciation
The mix of cash and stock (70/30) intends to reach the following:
1
At signing
2
Advent / Walmart and Grupo Carrefour Brasil believe that:
CRFB's share price has growth potential on a standalone basis
• The transaction will unlock significant additional value
Between
signing and
closing
Natural sharing of risks & opportunities between sellers & buyer during this period
Strong alignment of interests at a key moment in light of the expected signing-to-closing period
The stock component will support business performance of Grupo BIG and incentivize management
3
After closing
•
Advent & Walmart accepted to become a significant shareholder of Grupo Carrefour Brasil (~5.6%), a
sign of confidence in the growth potential of our Group
Limited impact of the transaction on our balance sheet: Net debt / EBITDA to remain below 1.5x (pre-
IFRS 16)
Post-acquisition integration: Strong incentive for a quick capture of synergies
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