Walmart Acquires Largest Chilean Food Retailer, Progress for International Strategy

Distribucion y Servicios D&S (DYS), 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. (WMT).

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 Wal-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.

Comments

[Paul Killinger:]

So W-M is taking their strategy overseas to continue their growth. Makes perfect sense if you think about it. (Too bad we can't go with them.)

Jan 27 01:37 PM