Magazine Luiza Authorized to Buy ‘Estante Virtual’

The Livraria Cultura ("Culture Bookstore"), owner of Estante Virtual ("Virtual Bookcase"), should use proceeds of the sale to pay off part of its debt.

RIO DE JANEIRO, BRAZIL - The Administrative Council for Economic Defense (CADE), Brazil's antitrust agency, has authorized Magazine Luiza to purchase the 'Estante Virtual'.

The decision, published on Friday, December 20th, in the Federal Gazette, finds that the deal will not lead to the dominance of companies in the book retail sector.

The 'Estante Virtual', a marketplace for new and used books, has been part of the Cultura Group, owner of 'Livraria Cultura . . .

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