Netshoes news and archive

Netshoes confirms merger with Magazine Luiza

Brazilian sportswear e-commerce giant Netshoes has finally confirmed its merger with compatriot Magazine Luiza after a long dispute for the acquisition of the company between Magazine Luiza and Grupo SBF. Magazine Luiza shall pay 3.70 US dollars per share or 115 million US dollars -- almost twice as much as the initial offer made in April ,...

Business

Companies battle to acquire Brazil’s Netshoes

There’s something about Netshoes, the Brazilian sportswear e-tailer. Two companies are battling to acquire the ailing nineteen-year-old business, which used to be Latin America’s largest in its segment but failed to turn a profit and has seen its shares drop by 85 percent since its IPO at the New York Stock Exchange in 2017. The first contender...

Business

Brazil’s Magazine Luiza acquires Netshoes for 62 million USD

Brazilian retailer Magazine Luiza has confirmed the acquisition of Netshoes, Latin America’s largest online sports retailer, for approximately 62 million US dollars (2 US dollars a share). The transaction is still pending approval by Netshoes’s shareholders and by Brazil’s competitive regulator, CADE. Founded in 2000 in Brazil and soon expanded...