Cencosur buys Carrefour Colombia for $2.6 billion

Cencosud agreed to buy Carrefour’s Colombian unit for 2 billion euros ($2.6 billion) as it taps rising consumer spending in Latin America and the world’s second-largest retailer retreats from markets it can’t dominate.

Carrefour gained the most in almost two months in Paris trading as analysts applauded the transaction, which Jefferies International’s James Grzinic described as “an incredible exit” from a country where it first opened a store in 1998.

The price is higher than for equivalent transactions in the food retailing industry, reflecting the potential for growth in Colombia.


Source: Bloomberg