A PYMNTS Company

Mexico: Soriana accepts regulator’s conditions on merger with rival

By  |  October 13, 2015

Soriana’s shareholders have accepted the conditions imposed by Mexico’s Federal Competition Commission (COFECE) in order to complete the supermarket chain’s purchase of rival Controladora Comercial Mexicana.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    COFECE had demanded that Soriana should abstain from buying Comercial Mexicana’s stores in 27 points, arguing concerns over possible risks to local competition that could reasonably lead to a hike in prices, hurting consumers.

    The acquisition involves 160 self-service supermarkets of the Mega, Comercial Mexicana, Bodega Comercial Mexicana and Alprecio brands, but excluding luxury chains City Market, Fresko and Sumesa. With the company’s approval, the following days will see legal procedures started for the launch of a Public Offering of up to 100% of Controladora Comercial Mexicana’s capital shares.

    Source: CNN Expansión

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.