Mexico's competition watchdog approves store sale, with conditions

jueves 8 de octubre de 2015 22:57 GYT
 

MEXICO CITY Oct 8 (Reuters) - Mexico's competition regulator approved supermarket chain Soriana's acquisition of most of the stores of rival Comercial Mexicana, though with conditions, the firms said on Thursday.

Comercial Mexicana, known locally as Comerci, agreed in January to sell 160 of its stores to Soriana , Mexico's No. 2 supermarket, for 39.19 billion pesos ($2.4 billion).

"Now we are in the process of analyzing and accepting the conditions imposed by COFECE (the Federal Competition Commission) in some of the markets involved in the transaction, so that we can continue with the transaction," Soriana said in a statement, without providing further details.

Comerci has said the stores it keeps in the deal, numbering about 40, will allow it to concentrate on areas where it sees more growth opportunities, such as in upmarket, higher-margin retail chains like City Market. ($1 = 16.4498 Mexican pesos) (Reporting by Anna Yukhananov; Editing by Stephen Coates)