According to Reuters, the retailer will pay the equivalent of USD 195 million in cash and 75 million shares in a cash and stock deal. Moreover, the deal’s value may rise to USD 756 million depending on certain targets being met by Kabum by 2024.
Kabum was founded in 2003, and it focuses on sales of products related to games. Magazine Luiza stated that it would issue 150,000 new shares to fund the acquisition.
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