Brazilian firm accepted a binding proposal to sell its subsidiary Uni.Co to BandUp for the base price of 152.9 million reais ($28.7 million), according to a securities filing.
- Base price considers enterprise value of 180 million reais
- BandUp will pay 20 million reais on the deal’s closing date
- Remainder will be paid in five yearly installments starting on the first anniversary of the closing date
- BandUp will be qualified to enter a competitive process to acquire the asset and will have the right to cover any potential higher bid
- Citigroup Global Markets Brasil advised Americanas on the deal
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