Colombian Regulator Approves Exito Tender Offer

Colombia’s financial regulator has approved the public tender offer by local food retailer Almacenes Exito for rival supermarket chain Carulla Vivero, according to a statement by Exito. The retailer has offered to buy a minimum of 7.8 million ordinary shares, representing 22% of Carulla’s share capital, and a maximum of 20.4 million shares, or 57.7%, at a price of $15.792 per share. The deal will be worth between $123 million and $323 million.