Brazil's largest retailer Grupo Pao de Acucar plans to spend at least 750 million reais ($436 million) in 2010 to open new stores and expand organically in the country, Chief Financial Officer Eneas Pestana said on Thursday.
The company also forecasts synergies from its takeover of home appliances retailer Globex Utilidades to be "much larger" than the 500 million reais previously estimated, Chief Executive Jorge Herzog said on a conference call. ($1=1.72 reais)
Nov 12, 2009
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