Exito Preps Share Sale for Peer Purchase

Exito Preps Share Sale for Peer Purchase


Colombian Retailer Almacenes Exito plans to issue $111m in shares to minority shareholders of fellow retailer Carulla Vivero to help finance the purchase of the 22.5% stake in Carulla it doesn’t yet own. Exito will issue 14.3m shares at $7.75 each. Exito acquired a controlling stake in Carulla in 2007 and is aiming to buy the remaining part of the company by March. Exito, which is controlled by French retailer Casino Guichard-Perrachon, plans to pay $222m for the rest of Carulla, to be financed

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