Colombian Retailer Plans Share Sale

Colombia’s Almacenes Exito plans to raise about COP435bn ($223m) from the sale of 30m new shares. The retailer plans to aims the shares to existing holders at COP14,500 each within 15 business days. Proceeds are destined for expansion, including helping to pay for the 22.5% it does not already own in retailer Carulla Vivero, a deal announced Monday and expected to be completed early next year. Corredores Asociados, Correval, Interbolsa, Serfinco and Bancolombia will manage the sale. Exito shares closed Tuesday at COP16,000.