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Chilean retailer Cencosud to focus on organic growth

RBR Staff Writer Published 05 December 2012

Chilean retail major Cencosud plans to halt its acquisition spree and revert focus to organic growth and lowering its debt.

The company also plans to defer its debut in new markets such as Mexcio and expansion in existing ones such as Brazil.

Cencosud recently acquired Carrefour's Columbian sales operations for a total enterprise value of €2.6bn and had taken a $2.5bn bridge loan from J.P. Morgan Chase to fund the transaction.

The company is now in the process of refinancing the loan and will look to rebrand the Carrefour Columbian brand to its flagship Jumbo.

Cencosud currently has operations across five Latin American countries with sales totalling $16bn in 2011.

The retailer operates in the food retail, department stores, shopping malls and financial services segements of the market.