M&A: Shopping in Colombia

M&A: Shopping in Colombia

Colombia continues to be a magnet for acquisitions this year – a trend that looks set to continue. Although a range of international buyers are looking, it is the Chileans that have made a particular mark. The most recent example comes from Cencosud which is paying €2 billion ($2.6 billion) for Carrefour’s supermarket assets in the country. The Chilean regional supermarket power was able to fend off other foreigners looking at Colombia’s GDP growth potential and opportunity to better penetrate medium-sized cities. Walmart was its most sizeable competitor. Analysts see the 17 times Ebitda multiple that Cencosud paid as being on the high side but point to ample opportunities for growth.

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