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C.07-12 Calleja and Europa desist from acquisition
 

C.07-12 Calleja and Europa desist from acquisition

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The acquisition authorization request filed by the company Calleja, S. A. de C. V. (owner of Selectos supermarkets) for the purchase of the assets of the company Europa S. A. de C. V. (owner of Europa ...

The acquisition authorization request filed by the company Calleja, S. A. de C. V. (owner of Selectos supermarkets) for the purchase of the assets of the company Europa S. A. de C. V. (owner of Europa and Hiper Europa stores), was rendered null and void after Calleja desisted before the Board of Directors (BD) of the Competition Superintendence (CS), due to an “interruption” of their negotiations.

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    C.07-12 Calleja and Europa desist from acquisition C.07-12 Calleja and Europa desist from acquisition Document Transcript

    • Press Release C. 07-12El Salvador, February 10th, 2012. Calleja and Europa desist from acquisitionThe acquisition authorization request filed by the company Calleja, S. A. de C. V. (owner ofSelectos supermarkets) for the purchase of the assets of the company Europa S. A. de C. V.(owner of Europa and Hiper Europa stores), was rendered null and void after Calleja desistedbefore the Board of Directors (BD) of the Competition Superintendence (CS), due to an“interruption” of their negotiations. Calleja´s lawyers who filed the acquisition authorizationWhen referring to the request of Europa by Calleja filed a new writ expressing thatdesistance, the “due to a stall in the negotiations between their client and theCompetition company Europa, S. A. de C. V. and its shareholders to achieveSuperintendent, a final agreement for the purchase of inventory and for rentingFrancisco Diaz certain buildings, it is was deemed proper to desist of theRodriguez said, “This acquisition authorization request that had been filed…”.decision belongsexclusively to the The BD of the CS had admitted the requested filed last Januaryinvolved economic 2nd and was beginning the legal, technical, and economicagents. The CS only analysis of said request pursuant to the Salvadoran Competitionacknowledges it and Law, in order to determine the impact that such an operationacts accordingly”. could cause on the market´s competition conditions if concluded.The Superintendent said that “the decision made by the economic agents interrupted thisprocedure”. Notwithstanding the aforementioned, he considered of the utmost importanceto emphasize that all the information received from the involved will be treated pursuantto the stipulations of the CL and its regulations. “They can rest assure that thedocumentation will be subject to the provisions and measures to guarantee its absoluteconfidentiality”, he added.