Americanas to merge with Lojas Americanas.

Americanas, an e-commerce provider in Brazil, agreed to merge with Lojas Americanas, a Brazilian retailer. Financial terms were not disclosed. Brazilian billionaires Jorge Paulo Lemann, Marcel Telles and Carlos Alberto Sicupira currently control Lojas Americanas and will hold a 29.2% stake in the combined company Americanas. Shares issued by Americanas held by Lojas Americanas will be canceled and each shareholder of Lojas Americanas will receive 0.186 common share issued by Americanas.