Mexico’s Femsa to acquire chain from Chile’s SMU for $54 mln

MEXICO CITY, Oct 8 (Reuters)Mexican retailer Femsa said on Thursday one of its subsidiaries had reached a deal with Chilean peer SMU S.A. to acquire its OK Market store chain for about 43.5 billion Chilean pesos ($54.49 million).

The transaction is subject to confirmatory due diligence, the signing of definitive agreements and regulatory and anti-trust approvals, the Mexican company said in a statement. The transaction is expected to close during 2021.

($1 = 798.3500 Chilean pesos)

(Reporting by Dave Graham Editing by Adriana Barrera)

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