PARIS, Sept 7 | Wed Sep 7, 2011 4:06am EDT
PARIS, Sept 7 (Reuters) - French catering group Sodexo said it bought Puras do Brasil for an enterprise value of about 525 million euros ($738.5 million) to take advantage of booming demand in the fast-growing Brazilian market.
Puras do Brasil provides services that range from food catering to the management of public spaces, such as cleaning and the maintenance of air conditioning.
"This is in line with our strategy to consolidate Sodexo's position in high-potential emerging economies by seizing the best opportunities," Chief Executive Michel Landel said in a statement on Wednesday.
Following the acquisition, on a pro-forma basis, Sodexo's consolidated net debt would represent about 46 percent of shareholder equity, based on figures at the end of February, Sodexo said.
The world's second-biggest catering services company after Britain's Compass Group has said emerging countries would be key for growth this year and in the medium term. (Reporting by Caroline Jacobs) ($1=.7109 Euro)
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