Exito Takes Control Of Carulla

Colombian largest food retailer Almacenes Exito has acquired a further 52.4% of rival Carulla Vivero to take its total stake to 72.2%. Exito bought around 18.5 million shares of Carulla for $292.4 million in an open auction that ended on Friday to add to the 19.8% of Carulla it already owned. Meanwhile, chief executive of Exito, Gonzalo Restrepo, said his company would launch another tender offer for the remaining 27.8% shares in the company, most likely in April.