Beleaguered Dutch retailer Royal Ahold will finalise the sale of its Chilean subsidiary Santa Isabel next week.
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.
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