Cofece rejects sale of Soriana stores to Grupo Chedraui
La Cofece rechaza la venta de tiendas de Soriana a Grupo Chedraui
Intel ID : 245989
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Mexico's antitrust regulator Comisión Federal de Competencia Económica (Cofece) rejected the acquisition of six stores of Tiendas Soriana (BMV:SORIANA) by Grupo Chedraui (BMV:CHCRUI), announced the Cofece in a press release issued on 10 March 2017. Specifically, the regulator claims the sale & leaseback scheme proposed by Tiendas Soriana in the sale to Grupo Chedraui did not meet the conditions imposed on Soriana following its takeover of Controladora Comercial Mexicana - CCM (BMV:COMERCI) (see related intel), given that model would allow the competing companies to remain connected, violating the federal antitrust law. Grupo Chedraui announced on 7 March it awaited the Cofece's authorization (see related intel).
(content in spanish)
La Comisión Federal de Competencia Económica (Cofece) de México ha rechazada la adquisición de seis tiendas de Tiendas Soriana (BMV: SORIANA) por Grupo Chedraui (BMV: CHDRAUI), ha anunciado la Cofece en una nota de prensa publicada el 10 de marzo de 2017. En concreto, el regulador sostiene que el esquema de sale & leaseback (venta y arrendamiento) que proponía Tiendas Soriana para la venta a Grupo Chedraui no cumple con las condiciones impuestas a Soriana tras su adquisición de Controladora Comercial Mexicana - CCM (BMV: COMERCI) (ver intel relacionado), dado que ese modelo permitiría que las empresas competidoras mantengan un vínculo que viola la ley de competencia federal. Grupo Chedraui había anunciado el 7 de marzo que esperaba la autorización de la Cofece (ver intel relacionado). |
Relevant Documents
| Press Release | 10 Mar 2017 | Cofece_Nota_de_Prensa_2017.pdf | ES |
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| Intel ID | 245989 | ||
| Value | ND | ||
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Mexican Peso (MXN)
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Financial Data - Grupo Chedraui
(31 Dec 2017) |
Revenue: EUR 4.011,14m EBITDA: EUR 256,11m Exchange Rate:
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15.05.08 Food & Beverage Retail 15 Consumer Products & Services / 15.05 Distribution & Retail |
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15.05.11 Multiline Retail (Department, Discount & Convenience Stores) 15 Consumer Products & Services / 15.05 Distribution & Retail |
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15.05.08 Food & Beverage Retail 15 Consumer Products & Services / 15.05 Distribution & Retail |
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15.05.11 Multiline Retail (Department, Discount & Convenience Stores) 15 Consumer Products & Services / 15.05 Distribution & Retail |
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Legend:
Verified: Confirmed as a party to an active or possible transaction.
Potential: Unconfirmed as a party to an active or possible transaction.
Retained: Confirmed as “Retained” with a general or specific mandate.
Prospect: Advisory “Prospect” in discussions with or pitching services to possible client.
Transactional data is continuously updated by the research team and therefore is subject to change.