ARGENTINA: UBS takes stake in Cencosud subsidiary
UBS has taken a stake in Cencosud's Argentine subsidiary
Investment bank UBS has taken a stake in Jumbo, the Argentine arm of Chilean retailer Cencosud.
The retailer announced yesterday (30 March) that UBS spent US$442m acquiring a 38.6% stake in the chain, shares previously held by a number of investment funds.
Cencosud said an agreement with UBS means that the retailer can buy the stake back from the bank within two years.
Earlier this month, the retailer said that net income rose 23.8% during 2010 on the back of higher sales across its different store formats.
- Premier Foods CEO expects UK supermarket rebound
- Why Post is increasing its exposure to cereal
- Lacklustre sales see Hershey turn to snacking
- Comment: Tread carefully over payment terms
- Briefing: The risks and rewards of e-tail in China
- Post Holdings strikes deal to acquire MOM Brands
- Hershey to acquire meat jerky firm Krave
- Up & Go breakfast drinks set for UK launch
- Hershey linked to takeover of jerky maker Krave
- Crisp maker Sibell acquires Spain's Celigueta
- 10 Key Trends in Food, Health and Nutrition 2015
- Unilever - Strategy and SWOT Report
- The Sugar Backlash and its Effects on Global Consumer Markets
- Global Consumer Trend Framework: Understanding Attitudes and Behaviors that Influence Global Consumption Habits
- PepsiCo, Inc. : Consumer Packaged Goods - Company Profile, SWOT & Financial Report