Carrefour to Buy Walmart’s Former Business in Brazil (3)

Carrefour SA is buying Walmart Inc.’s former Brazil unit to cement its position as the country’s largest supermarket operator two months after being the target of a failed takeover bid.

Advent International and Walmart agreed to sell Grupo BIG Brasil SA for about 1.1 billion euros ($1.3 billion), Carrefour said Wednesday. Brazil is already the French retailer’s second-largest market, and the deal would make that business almost as big as its European operations outside of France.

Chief Executive Officer Alexandre Bompard is embarking on his biggest acquisition to date after the French government blocked a takeover attempt by Canadian ...