Ropes & Gray Advises Advent International in its Acquisition of Walmart Brazil
Ropes & Gray advised Advent International, a global private equity firm, in its agreement to acquire a majority stake in Walmart Brazil. Under the terms of the agreement, Advent will hold 80 percent of Walmart Brazil, and Walmart Inc. will retain the remaining 20 percent upon the completion of the transaction. The transaction was announced on June 4 and is expected to close later this year, subject to regulatory approval in Brazil.
Walmart Inc. helps people around the world save money and live better in retail stores, online, and through their mobile devices. Having a presence in Brazil for the last 22 years, Walmart Brazil today has 438 stores in 18 states, with 55,000 associates.
The Ropes & Gray team was led by private equity partners Matthew Richards and Newcomb Stillwell, tax partner David Saltzman, litigation & enforcement partner James Dowden, IP transactions partner Edward Black and associates Christian Westra and Joshua Coombes.