Brazil’s Administrative Council for Economic Defense (CADE) approved without restriction the acquisition of the totality of Nike do Brasil shares by Grupo SBF, controller of Centauro, according to official gazette.
The deal was announced in February and comprises the acquisition of all Nike Brasil contracts and assets.
With this, SBF will start to operate not only as an exclusive distributor of the Nike brand in Brazil, but will also be responsible for the operation of its physical and online stores. Nike’s distribution agreement will be valid for a period of 10 years.
Full Content: Diário Oficial Da Uniao
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