Supermarket giants Foodstuffs and Woolworth lose battle over extending trading hours for alcohol sale.
Crew members affected by the closures will be given transfer opportunities to other stores.
With this deal, ABFRL platform is said to be poised for the next phase of transformational growth.
The capital will be used to acquire long-term licences of international fashion and lifestyle brands.
The move comes in line with the company’s aim to expand its retail presence in the country.
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The group plans to invest €3bn ($3.2bn) in new and existing stores by the end of this year.
The group is said to have come forward with a proposal to invest £100m in the homeware retailer.
With this deal, Sundry has now become a wholly owned subsidiary of DBG.
Reliance Retail, Trent and TPG Capital also have shown interest to acquire the stake.
The Rocha family holds a controlling stake in Guararapes, which was established in 1956.