Exito Succeeds With $300 Million Acquisition Loan

Colombian retailer Almacenes Exito has secured a loan worth $300 million to finance its acquisition of rival retailer Carulla Vivero. The syndicated loan was arranged via a group of foreign banks led by JPMorgan Chase. Earlier this year, Exito agreed to buy a 77.5% stake in Carulla Vivero for $433 million.