Closing out a run as a public company that produced a river of red ink, Netshoes agreed to be acquired by one of Brazil’s largest e-commerce companies at a price of US$2 per share, valuing the company at about $62 million. Shareholders including CEO Marco Kumruian, Tiger Global Management and HCFT Holdings that control 47.8% of the stock have already signed agreements to sell. Approval by two-thirds is required. Magazine Luiza, mentioned here earlier as a possible suitor, is a BRL 19.0 billion ($4.9 bb) retailer that has previously specialized in the home furnishing category and is evidently looking to ... Log in to view full article.