Magazine Luiza raises US$ 130 million with IFC

Globo

Lean Right

Factuality

Ownership

According to the retailer, the funds will be used to finance most of its investments in technology, including the evolution of the “marketplace” platform

braziljournal.com

Factuality

Ownership

Magalu raised US$ 130 million (about R$ 750 million) with IFC, the investment arm of the World Bank, after nearly two years of negotiations and a lot of due diligence. According to the retailer's statement, this is a clean operation, with a five-year grace period and a grace period of two. The interest rate was not disclosed. CFO Roberto Bellissimo told Brazil Journal that Magalu received an IFC delegation in recent months to evaluate the compan…