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Article: Saraiva acquires Siciliano.
- Article from:
- PR Newswire
- Article date:
- March 6, 2008
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SAO PAULO, Brazil, March 6 /PRNewswire-FirstCall/ -- Saraiva Group (BOVESPA: SLED4) is pleased to inform that it has successfully acquired 100% of Siciliano S.A.'s ("Siciliano") share capital.
Siciliano, a traditional Brazilian bookstore chain founded in 1928, owns 52 stores and 11 franchisees, being present in 13 of the Brazilian states and also in Brasilia, Brazil's capital.
Siciliano and Saraiva's operations are complementary, with low overlapping in terms of stores and a high level of synergy. Siciliano stores are located in important commercial areas where Saraiva does not have a significant penetration.
The investment planned by Saraiva ...