Mexico’s Federal Competition Commision (COFECE) has approved the sale of Grupo Comerci’s Comercial Mexicana supermarket chain to rival Soriana, after more than eight months of discussions and investigation.
The sale gives Soriana 160 supermarket locations located around Mexico, for a sum of 39.2 billion pesos. The expansion will make Soriana the second largest retail chain in the country, beaten only by Wal-mart’s local operations.
Soriana will now have 835 stores spread across Mexico, while Comercial Mexicana (now under the name Corporativo Comerci) will continue to operate it’s high-end brands.
Source: Informa BTL
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