trending Market Intelligence /marketintelligence/en/news-insights/trending/zmgj3cs27xdqxxc9bsd_2a2 content esgSubNav
In This List

Report: Amazon eyes Casino unit in Brazil

Blog

Insight Weekly: Global stock performance; hydrogen pilot projects; Powell's Fed future unsure

Blog

Industries Most and Least Impacted by COVID-19: A Market-Implied Probability of Default Perspective

CASE STUDY

A Telecom Company Relies on Deep Data to Chart its Future Strategy

Blog

ESG & Technology: Impacts and Implications


Report: Amazon eyes Casino unit in Brazil

E-commerce giant Amazon.com Inc. is considering a deal with a Brazil-based division of French retailer Casino Guichard-Perrachon SA, Reuters reported March 27.

Citing an unnamed source, Reuters said Amazon might agree to either a partnership or an outright acquisition of Casino's Via Varejo SA. Amazon and Casino have been in talks about the Brazilian subsidiary since January, the source told Reuters.

Earlier in the day, O Globo reported that the two companies are looking at "some kind of partnership," according to Reuters. Via Varejo sells furniture, consumer electronics, appliances and mobile phones through both physical stores and several websites, according to S&P Capital IQ. The company has more than 900 stores across Brazil, according to its website.

Neither Amazon nor Casino responded immediately to requests for comment from S&P Global Market Intelligence.

The report of the discussions comes a day after Amazon and Casino said the Seattle-based retailer would sell grocery items from Casino's Monoprix chain through Amazon's Prime Now service. The delivery will be available to Amazon customers in Paris and neighboring areas.

If Amazon and Via Varejo decide on a partnership instead of an acquisition, the relationship could be similar to the Monoprix model, Reuters reported.

Amazon has been eyeing an expansion into France for months. In October 2017, French newspaper Le Monde reported that the company reached out to multiple French retailers, including Casino.