Chilean retailer Cencosud has said it is persevering in its bid to acquire Disco, the Argentine supermarket chain of Dutch retailer Ahold.

Earlier this week, Cencosud revealed it had made a nonbinding offer for Disco. The retailer later clarified that the offer had been made in August and that the two firms had been in extensive talks since then, reported Reuters.

“That offer has been neither accepted nor rejected by the seller,” Pablo Castillo, finance and administration manager at Cencosud, was quoted by Reuters as saying.

“Notwithstanding, there have been to date diverse conversations between the parties in order to persevere in the transaction,” he added.

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By GlobalData