Wal-Mart plans $809 mln Brazil investments in 2009

Published: 23 Jun 2009 17:28:30 PST

SAO PAULO, June 23 - Wal-Mart Stores Inc plans to invest 1.6 billion reais ($809 million) in Brazil in 2009, a third more than the previous year, betting that an economic recovery in Latin America's largest economy will stoke consumer demand.

"The worst is over and from here on forward we will have a rebound in Brazil's economy," said Hector Nunez, chief executive of the U.S. retailer in Brazil. ($1=1.978 reais)