CROSS-BORDER M&A DEAL: Cencosud / Carrefour Colombia

CROSS-BORDER M&A DEAL: Cencosud / Carrefour Colombia

Corporate & Sovereign Strategy

In 2012, French retailer Carrefour chose to concentrate on businesses closer to its home market in Europe. The strategy led to its sale of its Colombian operations in a swift auction process that involved major global and Latin American companies. Chile’s Cencosud emerged victorious from a group of three finalists in October 2012, spending $2.6 billion to gain about 18% of Colombia’s supermarket sector. Carrefour’s operations were second only to Grupo Éxito, in a market with plenty of growth opportunity. The speed of the Carrefour purchase, as well as its landscape-changing nature, made it stand out during the awards period, against other prominent large deals such as UnitedHealth’s entr

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