Jumbo Retail Argentina acquired 84,80% of the capital stock of Disco S.A.

On November 1, 2004 Jumbo Retail Argentina S.A., a subsidiary of the Chilean retailer Cencosud S.A., acquired from Disco Ahold International Holdings N.V., a subsidiary of Koninklijke Ahold N.V., approximately 84,80% of the capital stock of Disco S.A., one of the largest Argentine retail chains, with 236 locations in Argentina.

Ahold and Cencosud completed the transaction based on a total value of approximately USD 315 million for Ahold?s entire interest in Disco.

In this complex transaction, involving a variety of legal issues, the purchaser was represented by the Buenos Aires law firm Pérez Alati, Grondona, Benites, Arntsen & Martinez de Hoz, in a team led by partner Jorge Pérez Alati seconded by partner Cristian Krüger as well as associate Luis Barry who coordinated the antitrust filing, and associates Eugenio Aramburu, Luciana Zuccatosta and Verónica Tuccio in addition to other associates. The Buyer was also represented by Cencosud?s in-house counsel Carlos Mechetti. The sellers were represented by Jan Willem de Boer, partner of the Dutch law firm of De Brauw Blackstone Westbroek and Ahold?s in-house counsel Michiel van den Bosch.

Estudio O´Farrell, legal counsel to Royal Ahold in Argentina, acted as Argentine legal advisor to the seller through a team led by partner Alejandro de Achával, with the assistance of senior associates Alejandro Anderlic and Esteban O'Farrell. A team led by partner Fernando Borio and senior associate Agustín Siboldi provided assistance on antitrust matters, partner Miguel Teson and senior associate Sebastian Lopez Sanson gave advice on tax matters, and partner Uriel O'Farrell coordinated all litigation matters related to this transaction.