Home / Knowledge / News / Wal-Mart to launch takeover bid for D&S Group
Wal-Mart to launch takeover bid for D&S Group
27
Dec '08
Wal-Mart Stores Inc announced it will launch a tender offer to acquire all of the issued and outstanding shares and American Depositary Shares of Distribución y Servicio D&S S.A.(DYS).

The tender offer price is denominated at US$0.408 per common share. This offer price represents a premium of approximately 37.4 percent over the average closing price for the prior 30 trading days.

“Moving into Chile is an important step in implementing Wal-Mart International's strategy. We continue to focus on portfolio optimization, global leverage and winning in every market,” said Michael T. Duke, vice chairman, Wal-Mart Stores, Inc. “A successful tender offer will give Wal-Mart the opportunity to be a significant participant in Chile, which continues to have a strong and growing economy among South America countries.”

Wal-Mart has set as a minimum condition of the tender offer, the acquisition of at least 50.01% of D&S's fully-diluted common shares. In order to demonstrate their support for the offer, the Ibañez family, the existing controlling stockholders of D&S, have agreed to tender a portion of their D&S shares. These controlling shareholders will enter into a long-term stockholders' agreement with Wal-Mart regarding D&S, which will continue to operate with its existing leadership, associates and brands.

According to Craig Herkert, President and CEO, the Americas, Wal-Mart International, “This investment demonstrates our deep respect for D&S, which has a long history of providing the best value to Chilean consumers. We share a laser focus on price leadership just as we do in Wal-Mart's 10 retail markets throughout the Americas. Both companies also have the same core values and business philosophies: respect for the individual, service to the customer and striving for excellence.”

Wal-Mart Stores, Inc. operates Wal-Mart discount stores, supercenters, Neighborhood Markets and Sam's Club locations in the United States.

D&S is a Chilean company whose stock is traded in the national and international Stock Exchanges. It is made up of a group of companies whose core business is food retail through different supermarket and hypermarket formats aimed at satisfying customers' diverse needs. It covers the whole country, from Arica to Punta Arenas.

Wal-Mart Stores Inc

Must ReadView All

Courtesy: H&M

Apparel/Garments | On 30th Mar 2017

H&M group's sales increase 7% in 3 months to Feb '17

The H&M group's sales including VAT amounted to SEK 54,369 million...

Textiles | On 30th Mar 2017

Vietnam’s textile & garment exports earn $4bn in Jan-Feb

Vietnam earned $4 billion from textile and garment exports in the...

Textiles | On 30th Mar 2017

India Inc should work for July 1 GST roll out: Fin sec

The Goods and Services Tax (GST) will take India into a very exciting ...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search