Grupo Falabella has acquired a minority stake in Organización Corona’s Colombian operations for approximately US$159 million. The transaction includes the purchase of Corona’s shares in several joint ventures between the two companies: 35% of Falabella Retail, 31% of Banco Falabella, 35% of Seguros Falabella, and 35% of ABC de Servicios S.A.S.
This move follows a process that began last June when Organización Corona submitted a Voluntary Exit Notice as outlined in the shareholders’ agreements.
Alejandro González, CEO of Grupo Falabella, stated, “this acquisition reflects our confidence in Colombia and the importance this market has for our regional strategy. We are fully committed to developing our businesses in the country, strengthening our value proposition, and continuing to build long-term relationships with our customers, employees, and communities.”
Despite this transaction, Grupo Falabella and Organización Corona will remain partners in Sodimac Colombia. Both companies will keep their current ownership stakes—51% for Corona and 49% for Falabella—and there will be no changes to operations or business management.
