Wal-Mart Acquires Chilean Retail Giant D&S
Distribucion y Servicios D&S, a Chile based retail company which operates over 200 stores across the country, in a statement on Friday January 23rd, announced that 58,28% of the company's outstanding shares and ADRs will be taken over by Wal-Mart Stores Inc.
Owners Felipe Ibañez Scott and Nicolás Ibañez Scott maintain control of 40,1% of the company's shares, leaving 1,7% to the remaining shareholders.
According to Craig Herkert, CEO of Wal-Mart Latin America, 'a coalition with D&S, with its strong position as the largest food retailer in Chile, is an important step in Wall-Mart's international strategy', La Tercera reported.
For 3Q'08 the company reported Total Assets at US$2,55 bln, US$1,54 bln of Total Debt, and a Net Worth of US$1,01 bln. Quarterly sales reached US$695 mln, with EBITDA at US$60,17 mln, and Net Income at US$13,8 mln.
Jan 23, 2009
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