Shareholders of Chilean supermarket chain D&S have approved a US$285m share offering to enable the company’s expansion plans to go ahead.

Proceeds from the offering will be used to finance the company’s purchase of the Chilean unit of French retail giant Carrefour, as well as the construction of new stores. The company also plans to expand the client base of its Presto credit card and pay back around $100m of debt, reported Reuters.

D&S announced in early January that it had acquired Carrefour’s Chilean operations for €100m (US$119.7m).