All the shares of Chilean supermarket chain Supermercados Agas will soon be bought by food retailing giant Royal Ahold, in a deal that will provide the Dutch group with control of 17 supermarket stores in Chile's capital, Santiago.

Agas has annual sales of €100m, and the deal will increase Ahold's presence on the Chilean market to 62 supermarket outlets, making it the second largest chain in the country. The Dutch retailer is already active in Chile through a joint venture with Santa Isabel, and has revealed that on completion of the most recent deal it expects to gross sales of €3.6bn in its Latin American stores.

The announcement of the deal came today (17 October), but financial details are yet to be released.