The purchase will allow Grupo Calleja to expand to Colombia.
The planned expansion to reach Colombia by the Salvadoran business group Grupo Calleja took an important step after the publication of the Public Procurement Offer (OPA) of actions of Almacenes Exito, which will be acquired by the Salvadoran entrepreneurs after agreement with Grupo Casino.
On November 6, the Colombian Superintendency of Finance confirmed that the Salvadoran company intends to buy at least 51 percent of Stores Success and up to 100 percent of the ordinary shares of that company for which they are willing to pay $0.9053 for each title.
This procedure is part of the pre-agreement that the Calleja Group established with Grupo Casino when it announced in mid-October its offer for the supermarket chain
The above-mentioned securities are part of the published OPA, since it is estimated that the offeror (Plaeja Group) may acquire at least “the amount of 661,910,823 ordinary shares of the issuer, representing as at 30 September 2023, 51.00% of the ordinary shares subscribed, paid and in circulation of the Issuer.”
In addition, Grupo Calleja would acquire “a maximum 1,297,864,359 ordinary shares of the Issuer, representing, as at 30 September 2023, 100% of the ordinary shares subscribed, paid and in circulation of the Issuer, according to the public information available on the website of the Issuer.”
The transaction is expected to be closed before the end of the year, once it receives approval from the Superintendency and the necessary submissions are made to the U.S. Securities and Exchange Commission.
Grupo Calleja is the main food retail chain in El Salvador and operates under its Super Select brand. With 111 stores and a market share of about 60%, Super Selectos is one of El Salvador’s largest companies and employs more than 12,000 collaborators in its operations.
This article has been translated from the original which first appeared in La Prensa Grafica