Key Developments: Magazine Luiza SA (MGLU3.SA)
8.60BRL
4:37pm EDT
R$ -0.17 (-1.94%)
R$ 8.77
R$ 8.65
R$ 8.82
R$ 8.41
1,119,600
743,552
R$ 13.68
R$ 6.97
Latest Key Developments (Source: Significant Developments)
Magazine Luiza SA Inaugurates Two Stores
Magazine Luiza SA announced the establishment of two stores in April 2013 in Pouso Alegre and Itajai, Brazil. Full Article
Magazine Luiza SA Announces Second Issue of Debentures
Magazine Luiza SA announced that on March 7, 2013 its Board approved the second issue of simple debentures not convertible into shares for a public distribution with restricted placement efforts in two series. There issue will contain 20 debentures at the price of 1,000,000 per debenture totaling BRL 200,000,000. In the first series the total amount will be of BRL 100,000,000 and debentures will have maturity period of two years. Debentures of the second series will total EUR 100,000,000 and will have the maturity period of three years. Issue date is March 22, 2013. Full Article
Magazine Luiza SA Divests Credit Card Issue and Corresponding Assets of Luizacred to Itau Unibanco Holding SA's Affiliate
Magazine Luiza SA announced that on February 22, 2013, it signed an agreement with Itau Unibanco Holding SA and Banco Itaucard SA (Itau) for the transfer of credit card issue activities of Luizacred SA Sociedade de Credito, Financiamento e Investimento (Luizacred) and related assets to Itau's affiliate or to Itau. After the transfer, the Company will continue to receive 50% of Luizacred's and Cartao Luiza's profit (profit-sharing) Full Article
Magazine Luiza Sa Inaugurates One Store; Shuts 14 Stores
Magazine Luiza SA announced the establishment of a store on January 18, 2013 in Sao Bernardo do Campo, Sao Paulo state, Brazil. It also shuts 14 stores ( seven in Parana, six in Sao Paulo state and one in Santa Catarina). Full Article
Magazine Luiza SA Inaugurates Four Stores
Magazine Luiza SA announced the establishment of four stores in October 2012 in Bauru, Juazeiro do Norte, Campinas and Londrina, Brazil. At the same time, it shut two stores in Bauru and Campinas, which were replaced by two new stores in the same cities. Full Article
Magazine Luiza SA Inaugurates Five Stores
Magazine Luiza SA announced the establishment of five stores in October 2012 in Recife, Sao Jose, Camacari, Salvador and Sao Paulo, Brazil. Full Article
Magazine Luiza SA Announces Issuance of BRL 200 Million Promissory Notes
Magazine Luiza SA announced that, on October 4, 2012, its Board of Directors approved the second issuance of promissory notes for a public placement with restricted placement efforts. There will be 20 promissory notes to be issued at the nominal unit value of BRL 10 million totaling BRL 200 million. Full Article
Magazine Luiza SA Signs New Operating Agreement with Cardif do Brasil Vida e Previdencia SA, Cardif do Brasil Seguros e Garantias SA and Cardif Capitalizacao SA
Magazine Luiza SA (Magazine Luiza) announced that on June 22, 2012 it signed a new operating agreement with Cardif do Brasil Vida e Previdencia SA, Cardif do Brasil Seguros e Garantias SA and Cardif Capitalizacao SA (Cardif), following an agreement with Cardif from December 13, 2005, to develop, trade and administrate insurance products in Brazil. New agreement will remain in force until December 31, 2015. Cardif will pay to Magazine Luiza the amount of BRL 80,000,000 within 30 days from signing the new agreement, of which BRL 30,000,000 will be paid to Luizacred SA Sociedade de Credito, Financiamento e Investimento. Moreover, if the sale goals of insurance products overcome the expectations, Magazine Luiza can obtain BRL 40,000,000 as from the end of 2013. Full Article
Magazine Luiza SA Announces FY 2011 Dividend Payment Date
Magazine Luiza SA announced that on May 23, 2012 it will make the payment of dividend for the 2011 fiscal year totaling BRL 2,770,664.00. Record date is April 30, 2012. Shares will be traded ex-dividends as of May 1, 2012. Full Article
Magazine Luiza SA Announces Decision of Court Related to Payment of FY 2011 Dividend
Magazine Luiza SA announced that it has been notified about the decision of the judge of the Federal Court of Paranavai, Dr. Danielle Perini Artifon, to refrain from the distribution of dividend to shareholders until the discharge or guarantee of the debt quoted in court documents number n. 2001.70.11.002932-5/PR. On April 30, 2012 on a General Meeting, the payment of dividend for the 2011 fiscal year will be announced in the total amount of BRL 2,770,664.00, to be done if a full guarantee of debt is given. The Company will keep the market updated on the issue. Full Article
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