Royal Ahold and Cencosud complete successful sale of Santa Isabel

Cencosud S.A. purchased Santa Isabel S.A., a Chilean supermarket chain from Koninklijke Ahold N.V. (?Royal Ahold?), the international food retailer and food service operator. Santa Isabel S.A. has 77 stores along the country and through this acquisition Cencosud S.A., which also operates the hipermarket chain Jumbo, has become the second largest supermarket retailer in Chile. The purchase involved a 7 month process, which was made particularly complex due to the difficulties in having Santa Isabel S.A. certified by the Superintendency of Securities and Insurance as a closely held corporation.

Cencosud S.A. was advised by Philippi, Yrarrázaval, Pulido & Brunner, through a team lead by partners Juan Francisco Gutiérrez and Luis Carlos Valdés, and further assisted by partner Pablo Román and by associates José Ignacio Díaz and Ignacio Rivadeneira.

Royal Ahold, N.V., was advised by Morales, Noguera, Valdivieso & Besa , through a team lead by partner Guillermo Morales, and further assisted by associates Arnaldo Gorziglia, Soledad Castro, Juan L. Goldenberg, Oscar Stephens and José Ignacio Concha, team that reported to Michiel van-den Bosch, Ahold?s senior legal counsel.