Beleaguered Dutch retailer Royal Ahold will finalise the sale of its Chilean subsidiary Santa Isabel next week.
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Santa Isabel’s new owner is Paulmann, the Chilean group that already operates the Jumbo supermarket chain. The deal is valued at approximately US$150m and involves both Santa Isabel’s assets (76 outlets in Chile) and acquisition of its debt.
Jumbo will thereby double the size of its market share in Chile from 9.63% to 19% and become Chile’s second-largest supermarket group behind D&S, still way ahead with a market share of 30.38%, reports SABI.
