December 21, 2006
Colombia's anti-trust regulator has approved the merger of the country's to
Colombia's anti-trust regulator has approved the merger of the country's top two retailers, Almacenes Exito and Carulla Vivero, although the newly merged entity must sell 11 of their 256 stores and comply with certain terms laid out by the regulator. In August, Exito agreed to buy a 77.5% stake in Carulla Vivero for $433 million. Exito subsequently became a target itself when Chilean retailer Cencosud announced, earlier this month, it had agreed to buy at least 24.5% of the Colombian retailer.