Renewable Energy

Brazil's Magazine Luiza ups offer to buy Netshoes to $3.7 per share - filing

Credit: REUTERS/SERGIO MORAES

Brazilian retailer Magazine Luiza SA has increased its offer to buy online retailer Netshoes Cayman Ltd to $3.7 per share, according to a securities filing on Thursday.

SAO PAULO, June 13 (Reuters) - Brazilian retailer Magazine Luiza SA MGLU3.SA has increased its offer to buy online retailer Netshoes Cayman Ltd NETS.N to $3.7 per share, according to a securities filing on Thursday.

Magazine Luiza said the board of Netshoes has reiterated its recommendation that the target's shareholders approve the transaction at shareholders' vote scheduled for Friday.

(Reporting by Ana Mano Editing by Chizu Nomiyama)

((ana.mano@thomsonreuters.com; Tel: +55-11-5644-7704; Mob: +55-119-4470-4529; Reuters Messaging: ana.mano.thomsonreuters.com@reuters.net))

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