Ahold to take full control of Santa Isabel
Dutch supermarket giant makes offer for shares in Chilean subsidiary
August 26 2002
Ahold is to make an offer for outstanding shares in Chilean supermarket company Santa Isabel.
The Netherlands based supermarket operator is offering a premium of about 22.6 per cent to Chilean and US shareholders through subsidiary companies including Disco Ahold International. Ahold currently owns 69.7 per cent of Santa Isabel.
The move will give Ahold greater control over its South American operations, which have been hit badly by the economic crisis in the region. Once the tender offers are completed, Ahold intends to delist Santa Isabel shares on the Chilean and US markets.
Santa Isabel operates 76 supermarkets in Chile, along with a further 30 in Peru and 11 in Paraguay. Ahold wholly owns 236 Disco supermarkets in Argentina.
