Chedraui lines up loan for US acquisition

Chedraui lines up loan for US acquisition

M&A Mexico United States Asset Management Commerce

Mexican supermarket chain Chedraui said Friday that its US subsidiary Bodega Latina had lined up financing for the acquisition of California-based warehouse grocery store Smart & Final from US asset management firm Apollo Global Management. Bodega Latina agreed to pay $620 million for Smart & Final, including debt, and secured a loan from BBVA, Bank of America and Scotiabank, Chedraui said in a press release. The company will also use existing credit lines and cash on hand to cover part

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