Americanas S.A. (BOVESPA:AMER3) agreed to acquire Lojas Americanas S.A. (BOVESPA:LAME4) for BRL 10.9 billion on November 1, 2021. As per the transaction, Americanas S.A. shall issue 0.185982 shares for each single share of Lojas Americanas S.A. The transaction is subject to obtaining approvals from the shareholders of Lojas Americanas S.A. and Americanas S.A. The transaction was approved by the Board on November 3, 2021. Cezar Aragão and Monique Mavignier of Barbosa, Müssnich & Aragão Advogados acted as legal advisor to Lojas Americanas and its shareholders.

Americanas S.A. (BOVESPA:AMER3) completed the acquisition of Lojas Americanas S.A. (BOVESPA:LAME4) for BRL 11.1 billion on January 21, 2022. Exchange ratio at closing was 0.188964.