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 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
- 1. Press Release C. 07-12 El Salvador, February 10th, 2012. Calleja and Europa desist from acquisition 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. Calleja´s lawyers who filed the acquisition authorization When referring to the request of Europa by Calleja filed a new writ expressing that desistance, the “due to a stall in the negotiations between their client and the Competition company Europa, S. A. de C. V. and its shareholders to achieve Superintendent, a final agreement for the purchase of inventory and for renting Francisco Diaz certain buildings, it is was deemed proper to desist of the Rodriguez said, “This acquisition authorization request that had been filed…”. decision belongs exclusively to the The BD of the CS had admitted the requested filed last January involved economic 2nd and was beginning the legal, technical, and economic agents. The CS only analysis of said request pursuant to the Salvadoran Competition acknowledges it and Law, in order to determine the impact that such an operation acts accordingly”. could cause on the market´s competition conditions if concluded. The Superintendent said that “the decision made by the economic agents interrupted this procedure”. Notwithstanding the aforementioned, he considered of the utmost importance to emphasize that all the information received from the involved will be treated pursuant to the stipulations of the CL and its regulations. “They can rest assure that the documentation will be subject to the provisions and measures to guarantee its absolute confidentiality”, he added.