Leading Colombian retailer Almacenes Exito is to acquire up to 19.8% of the remaining shares in its closest rival, Carulla Vivero.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The transaction will be concluded on the basis of US$15.79 per share through a public tender offer, according to a statement from Exito today (Tuesday).
Exito last month reported an 83.6% rise in net profits in the first half of the year versus the year-ago period to $10.48m.
Carulla’s existing shareholders have shown support for the Exito bid, putting it ahead of approaches from multinationals including Carrefour, Wal-Mart and Cencosud, Miguel Cuadros, Carulla’s chief financial officer, told Dow Jones Newswires.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
