MEXICO: Competition watchdog approves Comerci purchase of Auchan stores

Mexico’s competition watchdog said on Tuesday that it has authorised the purchase by Controladora Comercial Mexicana (Comerci) of five stores from French retailer Auchan. The Federal Competition Commission said competition in the sector would not be affected by the acquisition, reported Reuters.

May 7, 2003

Mexico’s competition watchdog said on Tuesday that it has authorised the purchase by Controladora Comercial Mexicana (Comerci) of five stores from French retailer Auchan.

The Federal Competition Commission said competition in the sector would not be affected by the acquisition, reported Reuters.

Although the price of the purchase was not disclosed, a source at Comerci told Reuters that Comerci would pay around US$91m over five years for the stores.

Comerci, which has around 230 outlets in five different store and restaurant format, began to consolidate sales from the stores as of 1 March.