Overview
- Deutsche Bank, mandated by Carrefour, advanced Coto, GDN/ChangoMás (Francisco de Narváez), Cencosud and U.S.-based Klaff Realty to the next round.
- The seven initial submissions were non-binding and comprised three strategic operators active in Argentina and four investment funds.
- Newsan issued an official statement confirming it is not participating in the process and did not make an offer.
- Carrefour continues to operate and expand locally, opening 9 of 16 recently acquired Super A stores in Mendoza as Carrefour Express and retaining staff.
- Reporting cites market estimates valuing the Argentine unit at roughly or above US$1 billion, with timelines for binding bids potentially subject to delay.