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Big names of global business increase stakes in Costa Rica

Monday, July 23, 2018

Two of the owners of the world's most valuable brands -- Walmart and Coca-Cola -- have announced two new investment projects in Costa Rica.

Walmart, which already has 250 stores in the country, wants to acquire local group Gessa, which has 52. Coprocom, the competition authority, says that a decision on approval of the deal is unlikely to be made within less than three months.

Coca-Cola, which began operations in Costa Rica half a century ago, launched the construction of a new concentrates plant in Liberia, Guanacaste. The plant, which represents a $50 million investments due to come on stream in 2020.