Retailer Falabella has sold its 20% stake in Farmacias Ahumada for $100m (£64m) to Mexican Grupo Casa Saba. The latter announced last May it had reached an agreement to acquire Farmacias Ahumada for $637m (£408m), including about $162m (£104m) in debt.
The combined company will become one of the leading drugstore chains in Latin America and one of the largest distributors of consumer goods and pharmaceuticals in the region, with estimated revenues of about $4bn (£2.55bn) and a wide platform of about 1,500 drugstores across Mexico, Brazil, Chile and Peru.
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