The UK’s biggest discount chain is selling the biggest discount store in the world
The UK-based discount chain, which is also a home to a number of other stores, is buying the biggest department store in Latin America.
Levine’s is reportedly paying $12 billion for the chain, including $8.8 billion for its Colombian, Panama and Honduras branches.
It will be selling its stores in Colombia, Venezuela, Costa Rica, Mexico, Costa Rico, Puerto Rico, and Mexico City.
It’s the largest deal in Latin American history.
The deal is being closely watched as the retailer grapples with the slowdown in the retail sector, which has caused the loss of millions of jobs and led to the sharp drop in its stock price.
It also marks the first time a retailer has been sold to a non-financial company.
Levine, which was founded in 1959, operates stores in 12 countries and has more than 4,000 locations.
The company has also been a major player in Latin, Caribbean and African markets, including Mexico and Colombia.
Earlier this year, the retailer’s shares tumbled 15% as the company’s stock price plunged to $17.70 from $22.40.