BUSINESS MEMO: JCPENNEY EXPANSION

JCPenney Co. is expanding its push into Latin America.

The department store chain has agreed to pay $33.3 million for control of Brazil's Lojas Renner SA retail chain.

Renner, which has a work force of 1,900 and operates 21 stores in southern Brazil, had revenue of $210 billion last year.

JCPenney operates five outlets in Puerto Rico, two in Chile and two in Mexico, with a third store scheduled in Mexico next year.