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Extrafarma’s purchase by Pague Menos is recommended by Cade’s General Superintendence

THE Pay less announced this Monday, 9th, that the General Superintendence of the Administrative Council for Economic Defense (SG-Cade) issued an order recommending the approval of the acquisition of Imifarma Pharmaceuticals and Cosmetics (extrapharma) by the company, through the execution of a Concentration Control Agreement (ACC).

Under the terms of the negotiated agreement, Pague Menos committed to adopting structural solutions in order to eliminate the competition concerns pointed out by the SG-CADE, including the divestment of some points of sale from Extrafarma. The stores object of the divestment negotiated in the ACC represent less than 3% of the base of the Extrafarma chain.

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The Court of Cade has until September 2, 2022considering the maximum legal period, including potential extensions, to decide definitively on the SG’s recommendations, including the terms of the negotiated ACC.

“According to the material fact disclosed on May 18, 2021, the transaction is an important milestone in accelerating the Company’s growth strategy,” Pague Menos said in a note.

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