Brazilian online retailer agrees capital increase

Brazilian e-commerce firm B2W has secured a BRL2.38bn ($984m) capital increase from its majority shareholder, Lojas Americanas, and investment firm Tiger Global Brazil. Lojas, a retailer which owns 62.23% of B2W, has agreed to put BRL1.022bn towards the capital raise, and to pick up unsubscribed shares. Tiger has said it will buy at least BRL495m — and up to BRL1.2bn — in the capital raise. B2W will use the funds to pay back debt and invest further in the business.