Buyers Line Up For Ahumada

The sale of a 51% stake Chilean drugstore chain Farmacias Ahumada belonging to founder Jose Codner is nearing its end and a buyer should be announced at any moment, says a person close to the negotiations. The target company does not return calls for comment, but local press reports indicate that potential buyers are US-based Walgreens, Walmart, Mexico’s Casa Saba, Chile’s Falabella – which already holds a 20% stake – and Argentina-based private equity firm Pegasus, which controls the Farmacity chain. Goldman Sachs and local shop Altis are advising the seller. Philippi Yrarrazaval Pulido y Brunner is the legal advisor, according to company information. Farmacias Ahumada, which has more than 1,200 stores in Chile, Mexico and Peru, has sales of about $1.7bn. The company has a market cap of about $300m.