Carrefour’s acquisition of Atacadao gets the thumbs up

The Carrefour logo is pictured in a supermarket in Sao Paulo The Carrefour logo is pictured in a supermarket in Sao Paulo, Brazil November 9, 2017. REUTERS/Nacho Doce

BRASILIA: Atacadao SA’s investors approved an acquisition by parent company Carrefour SA in a contentious vote that included opposition from some investors and one prominent proxy adviser.

The Brazilian retailer announced that the proposal was approved, without detailing the vote count. Atacadao generated roughly 116 million reais (about US$20mil) in sales last year.