Cencosud Taking Over Argie Unit

Cencosud Taking Over Argie Unit

Argentina Chile M&A

Chilean retailer Cencosud could take over the 38.6% stake it does not own in its Argentine supermarket unit Jumbo Retail when the investment funds that hold the stake exercise their option to sell it. The sale price still has not been determined, but Celfin says the deal, which would give Cencosud 100% of the unit, could be worth $550m. Cencosud says it could pay for the stake with cash or shares. Jumbo Retail, which includes the Jumbo, Disco and Vea store brands, has 252 stores and a 23% share

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