ARGENTINA: Carrefour acquisition of Eki nears completion

By Paula Krizanovic | 8 June 2012

Carrefour has moved a step closer to acquiring Argentinian low-prices supermarket chain Eki.

The takeover had been opposed by some of Eki's creditors and suppliers, who initiated legal action to block the move. However, at the end of last month Argentina's federal commercial court number 22 - lead by judge Margarita Braga - found in favour of Carrefour and ruled the takeover process can continue.

The acquisition is expected to be finalised next Wednesday (13 June). However, Carrefour Argentina told just-food there are still some details to be agreed.

Carrefour declined to comment on what these details are or confirm the purchase price, which is believed to be in the region of ARS300m (US$66.9m).

If the deal goes through, Carrefour would take on Eki's 130 supermarkets in Argentina and assume the group's debt, which reportedly stands at ARS220m.

Eki's supermarkets are primarily located in and around Buenos Aires. They are currently closed due to Eki's financial difficulties. 

Sectors: Emerging markets, Mergers & acquisitions, Retail

Companies: Carrefour

View next/previous articles

Currently reading -

ARGENTINA: Carrefour acquisition of Eki nears completion

There are currently no comments on this article

Be the first to comment on this article

Related research

Carrefour in Spain: Local Profile

‘Carrefour in Spain: Local Profile’ contains details on Carrefour's local operations, covering its market share (as well as that of its key competitors) and its latest approaches and strategies. It also provides details on historical developments in ...

Carrefour in France: Local Profile

This is a detailed report covering Carrefour’ store formats, private labels, history, key employees, and key financial and operational metrics in France....

Carrefour in India: Local Profile

This is a detailed report covering Carrefour’s store formats, private labels, history, key employees, and, key financial and operational metrics in India....

Related articles

TURKEY: Makro Market buys stake in Uyum Foods

Dutch supermarket operator Makro Market has acquired a stake in Turkey retailer Uyum Foods.

FRANCE/CHINA: Carrefour denies "partnership" talks with China Resources Enterprise

French retail giant Carrefour has denied reports it is in talks with Hong Kong-based China Resources Enterprise about a potential partnership deal in the Chinese retail sector.

INDONESIA: Carrefour sells stake in local JV

Carrefour has sold its stake in its venture in Indonesia, the latest move to refocus its attention on a smaller number of markets worldwide.

Welcome to the home of food information, insight & intelligence

Not a member? Join here

Decrease font sizeDecrease font sizeDecrease font size Increase font sizeIncrease font sizeIncrease font size Comment on this article Email this to a friend Print this page