US retail giant Wal-Mart has indicated that, if successful, its bid to take a controlling stake in Chilean retailer Distribución y Servicio D&S will further its drive into Central and South America.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Wal-Mart announced that it is to launch a tender offer to acquire a stake in D&S, with a view to acquiring a minimum of 50.01% of outstanding shares.
“We are already operating throughout Central America, and in Brazil and Argentina in South America,” a spokesperson for Wal-Mart told just-food. “This transaction will have a positive and significant impact on Wal-Mart’s growth plans and is aligned with our strategic goal of investment in the Americas.”
The US retail giant said that it will offer US$0.408 per common share, representing a 37.4% premium on the average closing price over the past month.
The Ibañez family, D&S’s current controlling shareholder, will enter into a long-term stockholders’ agreement with Wal-Mart.
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 GlobalDataThe Ibañez family has already agreed to sell a portion of shares it holds – up to 23.4%, the Wal-Mart spokesperson told just-food.
If Wal-Mart’s tender is successful, the company has indicated that D&S will continue to operate under its existing leadership, associates and brands.
