Colombia's Exito Expects Full Payment from Venezuela

Colombia's Exito Expects Full Payment from Venezuela

Colombia Venezuela M&A

Colombia’s retailer Exito has received $72.4m out of a $90.5m payment it is owed from the sale of Venezuela’s Cativen retailer to the Venezuelan government. Exito expects to receive the last installment of $18.1m in November 2012 which would finalize the transaction. Exito officials could not immediately be reached for comment. The payments to Exito stem from French retailer Casino’s decision in November 2010 to sell an 80.1% stake in Cativen to the Venezuelan government for $690m

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