Brasil Pharma sells money-losing unit for $12 mln
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Sao Paulo: Brazilian drugstore chain Brasil Pharma SA sold on Wednesday its money-losing subsidiary Mais Economica to a group of local investors for about 45 million reais (US$12 million) as it tries to return to profitability and cut debt, a source with direct knowledge of the transaction said.
Rio de Janeiro-based Verti Capital completed the purchase of Mais Economica on Wednesday afternoon in Sao Paulo and the acquisition will be paid over one to three years, said the source, who requested anonymity because the transaction remains private.
Rio de Janeiro-based Verti Capital completed the purchase of Mais Economica on Wednesday afternoon in Sao Paulo and the acquisition will be paid over one to three years, said the source, who requested anonymity because the transaction remains private.
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