Exito Raises Extra $1.3 Million From Share Sales

Colombia’s largest retailer, Almacenes Exito, has raised a further $1.3 million from the sale of new shares as part of its acquisition financing of local rival Carulla Vivero. Exito sold 277,377 new shares in a second and third round after raising $116 million from the first-round sale of 24.4 million new shares earlier this month. The proceeds of the share sale will go towards funding the $470 million acquisition of a 72.2% stake in Carulla.