Amazon May Buy Sao Paulo Bookseller to Expand in Brazil

Wednesday, 17 Oct 2012 05:14 PM

 

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Amazon.com Inc., the world’s largest online retailer, is in talks to buy Saraiva SA Livreiros Editores, a Brazilian bookseller, a person with direct knowledge of the matter said.

The person asked not to be identified because the discussions are private. Saraiva, based in Sao Paulo, publishes books and sells them over the Internet and through a store chain.

Chief Executive Officer Jeff Bezos would use the deal to broaden Amazon’s base in Brazil, Latin America’s largest economy. The company is looking for new areas of growth as stepped-up spending on areas such as its Kindle e-reader and fulfillment centers erodes profitability.

Drew Herdener, a spokesman for Amazon, declined to comment. Saraiva Chief Financial Officer Joao Luis Ramos Hopp said the company doesn’t comment on market rumors.

Saraiva surged 7.3 percent to 28 reais at Wednesday's close in Sao Paulo, giving the company a market value of 723.7 million reais ($356.2 million). Amazon advanced 1.5 percent to $247.49 at the close in New York.

Exame reported in August that Saraiva was among the possible acquisition targets for Amazon in Brazil. The Sao Paulo-based magazine didn’t cite how it obtained the information.

© Copyright 2014 Bloomberg News. All rights reserved.

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