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    LAME4   BRLAMEACNPR6

LOJAS AMERICANAS S.A.

(LAME4)
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Lojas Americanas S A : 25/Feb - Partnership with BR Distribuidora

02/25/2021 | 10:53am EDT

LOJAS AMERICANAS S.A.

CNPJ/ME n° 33.014.556/0001-96

NIRE 3330002817-0

MATERIAL FACT

LOJAS AMERICANAS S.A. ("Americanas"), in compliance with CVM Instruction No. 358, of January 3, 2002, as amended, and in continuity with the Material Fact disclosed on August 30, 2019, communicates to its shareholders and the market that, on this date, entered into, with PETROBRAS DISTRIBUIDORA SA ("BR Distribuidora"), binding documents for the creation of a partnership to explore the business of small retail stores, inside and outside gas stations, through the network of stores of Local and BR Mania ("Partnership").

The Partnership will become effective through the creation of a new entity, which corporate capital will be held by Americanas and BR Distribuidora, both with 50% stakes. The Partnership will have its own independent management and corporate governance structure.

For the Partnership, it was considered an enterprise value under current conditions (as is) of up to R$ 995 million, which considers the contribution of the BR Mania franchise network and the Local stores. In addition, the transaction includes a disbursement by Americanas of up to R$ 305 million, divided in a capital increase of approximately R$ 252 million in the new company and a payment of up to R$ 53 million to BR Distribuidora, based on performance goals.

Americanas currently has 55 neighborhood stores in the Local format, with its own operation, and BR Distribuidora has approximately 1,200 stores in the BR Mania format, operated by franchisees. The BR Mania brand will be maintained in the gas station stores, while stores out of gas stations will use the Local brand. The operation model includes both franchised stores and own operation point of sales.

The Partnership aims to offer a new value proposition to consumers, franchisees, resellers and store attendants, with the combined strengths of BR Distribuidora and Americanas, which comprises extensive retail experience in the Brazilian market, a network of points of sale with national capillarity, scale and structure of supplies and logistics, technology and performance in digital retail, in addition to recognized brands, and represents an important step towards the expansion in the convenience market in Brazil.

The formalization of the Partnership and the closing of the transaction depends on the fulfillment of typical conditions for transactions of this nature, including obtaining authorization from the Administrative Council for Economic Defense - CADE.

Americanas will keep its shareholders and the market informed of any material information regarding the subjects covered by this Material Fact.

Rio de Janeiro, February 25, 2021

Lojas Americanas S.A.

Carlos Eduardo Rosalba Padilha

Investor Relations Officer

Disclaimer

Lojas Americanas SA published this content on 25 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 February 2021 15:52:01 UTC.


ę Publicnow 2021
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Financials
Sales 2021 27 952 M 5 186 M 5 186 M
Net income 2021 764 M 142 M 142 M
Net Debt 2021 3 428 M 636 M 636 M
P/E ratio 2021 106x
Yield 2021 1,73%
Capitalization 9 295 M 1 733 M 1 724 M
EV / Sales 2021 0,46x
EV / Sales 2022 0,39x
Nbr of Employees 34 000
Free-Float 61,6%
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Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 5,18 BRL
Average target price 24,03 BRL
Spread / Average Target 364%
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Managers and Directors
Miguel G. Pereira Sarmiento Gutierrez Chief Executive Officer & Director
Carlos Eduardo Rosalba Padilha Director-Finance & Investor Relations
Eduardo Saggioro Garcia Chairman
Vanessa Claro Lopes Independent Director
Paulo Alberto Lemann Director
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