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Cencosud in Latin America. (Photo: Cencosud/Carrefour/FIS)
Cencosud purchases Carrefour chain in Colombia
(CHILE, 10/22/2012)
The Chilean company Cencosud agreed to buy the subsidiary of Carrefour in Colombia, which currently is the second largest supermarket operator in the country, for EUR 2,000 million (just over USD 2,600 million).
The purchase will be financed through a loan provided by the US bank JP Morgan, of USD 2,500 million.
The transfer of the total of the shares in the Colombian subsidiary must take place before 31 December, 2012, Cencosud informed.
Following this acquisition, the holding linked to entrepreneur Horst Paulmann expands its presence in five countries in Latin America in the supermarket field: Brazil, Argentina, Peru, Chile and Colombia, Diario Financiero reported.
In Colombia, Cencosud was already present through the chain Easy.
Cencosud bought 92 stores, including 72 hypermarkets facilities, 16 convenient stores, four cash and carry formats, and some petrol stations.
According to the available data, in the last 12 months Carrefor Colombia net sales totalled EUR 1,668 million.
"Not only are we purchasing a big operation, but we are also entering an extraordinary market, which would not have been possible to address via organic growth," added Paulmann, as Economy and Business reported.
Currently, Cencosud owns 684 supermarkets, 81 home improvement and construction stores, 25 shopping centres and 35 multi-stores Paris; and the firm directly employs more than 140,000 people, according to the Argentine newspaper La Nacion.
By Analia Murias
[email protected]
www.seafood.media
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Santiago
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Chile
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+56 2-9590700
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