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AMSTERDAM - Dutch retailer Royal Ahold NV today completed a bid for shares it did not already own in Chilean supermarket firm Santa Isabel for approximately $50 million, boosting its stake to 97 percent, according to a Reuters report.
Ahold previously held 70.2 percent of Santa Isabel and plans to delist the company. Ahold shares showed little reaction to the news. Ahold was required under Chilean law to make a bid for the remaining shares in Santa Isabel after its stake went over the two-thirds threshold that forces it to make a bid for the whole company.
Santa Isabel operates 117 supermarkets in Chile, Peru and Paraguay.