Regulatory approval has been granted to the acquisition of Puerto Rico’s largest supermarket chain, Supermercados Amigo, by a unit of US retail giant Wal-Mart.
Go deeper with GlobalData
The approval comes with the condition that Wal-Mart sells four Amigo stores to a rival, Supermercados Maximo, in order to protect competition among supermarkets.
Wal-Mart announced back in February that it was planning to acquire the 36-store Amigo chain, but some of the other retailers in Puerto Rico complained, saying it would give Wal-Mart a near 40% share of the local market, reported the New York Times.
