Falabella sells card business in Argentina

Falabella sells card business in Argentina

M&A Retail shopping Commerce Andean Latin America South America Argentina Chile

Chilean retailer Falabella said that it has reached an agreement to sell its CMR credit card business in Argentina to Banco Columbia, a latest effort to reduce its exposure there. Falabella did not say how much it earned from the deal in a short statement late on Wednesday. The company, one of the biggest chains of department stores in South America, said last September that it was considering selling its business in Argentina. But after failing to find a buyer for its three department stores, t

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