Earlier in the afternoon, shares of Lojas Americanas (LAME4) were up 20%. Americana (AMER3) stock also rose, albeit at a more timid pace, reaching 4.5%. The growth came after it was announced that companies were considering integrating their operations.
Besides announcing the potential merger, the companies also said they were considering going public in the US, more specifically on the New York Stock Exchange or Nasdaq, which also contributed to the growth in the Brazilian stock exchange.
Lojas Americanas and B2W (the parent company of Americanas.com, among other markets) announced a potential merger in April of this year. The merger of the two companies was approved in June, but the official announcement has not yet been made. The merger will ensure the emergence of Americana SA
“An analysis of this opportunity is currently underway, at an operational level, and its outcome, in terms of legal suitability and feasibility, must be presented to the corporate management, to decide, if possible, that it will be transferred to a proper shareholder profile,” says a statement issued by the companies and signed by Miguel Gutierrez, Managing Director. Investor Relations.
Gutierrez emphasized in the statement that, to date, no decision has been made in this regard and that the announcements are only about possibilities.
In a note to customers, the file Bradesco BBI assessed that the merger improves governance by owning only one class of stock and simplifying the structure, as Lojas Americanas is likely to be terminated as a holding company.
*With information from Reuters.