Cencosud Buys 100% of Exito

Cencosud, one of Chile’s largest retailers, has bought 100% of Colombia’s largest supermarket chain – Almacenes Exito – paying 12,500 Colombian pesos per share or 2.6 trillion pesos ($1.1 billion) for 209 million shares. A public offering of shares on January 27 will be arranged by Santander Investment Valores Colombia. Last month, the Chilean company offered to buy 51.2 million shares from investor Grupo Toro, at 12,500 Colombian pesos a share, amounting to around $270 million.