Best Corporates: Birth of a champion

Jun 28, 2013

When it comes to financing a large-scale acquisition, Cencosud shows the debt and equity markets how it’s done

For Cencosud, it was a "perfect fit", says CEO Daniel Rodríguez. In October, the Chilean retailer cemented its hold in the Colombian market with the €2 billion ($2.6 billion) purchase of French multinational Carrefour’s assets in the country.

For Cencosud, the appeal was a strong brand and the fact that the target stores came with around 80% of the accompanying land. The deal also meant the prospect of owning 18% of the Colombian supermarket sector.

On its own, the transaction was an impressive example of a Latin champion extending and consolidating its reach. Coupled with a sophisticated capital markets strategy to finance the acquisition, the company glides to a win as the Andean corporate with the best capital markets strategy.

With supermarket, mall and department store operations in Chile, Brazil, Peru, Argentina and Colombia, where it has had...

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