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.
- How brands are eyeing their own retail presence
- Why Lactalis could move for Dairy Crest
- Who could swoop for Diamond Foods?
- The consistent inconsistency of European promos
- Indonesia – How ice cream makers can drive volumes
- Nestle, R&R Ice Cream in joint venture talks
- How the food industry is reacting to TPP
- Mondelez 'preparing to sell European cheese unit'
- China implements new safety regulations
- Unilever acquires Italian gelato group Grom
- Management briefing: just-food’s industry outlook for 2015
- Global Savory Snacks Market: Merger and Acquisitions August 2015
- Danone SA : Consumer Packaged Goods - Company Profile, SWOT & Financial Analysis
- E-Grocery Market in India - Market Research 2015-2019
- Food and Beverage Coding and Marking Equipment: Market Outlook 2015-2019