Chilean retail group Cencosud is seeking approval from local antitrust regulators to acquire troubled food retailer Supermercados Unimarc, according to a report in financial paper Diario Financiero which cited anonymous sources.
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The Santiago Stock Exchange has halted trading of both Cencosud and Unimarc until the companies officially inform the stock exchange about the deal, the report stated.
If approval is gained, Cencosud would be able to acquire some 42 stores operated by Unimarc throughout Chile. The addition of the Unimar chain would give Cencosud a market share of around 32%, the report also said.
The Diario Financiero also stated that a ruling was expected soon as executives at Unimarc had already backed the deal.
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