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White Rose/Grande Deal Expected In 2Q
BY TAINA ROSA
January 17, 2002
Five years have passed since White Rose expressed interest in purchasing a major stake in the Grande supermarket chains operations.
It seems a deal may finally be inked during this years second quarter (2Q), according to Grande owner Atilano Cordero Badillo.
"Were just waiting on to see what happens during 1Q and a final decision will be made in 2Q. If the deal goes through, I will continue being chairman of the company and White Rose will be a venture capital partner that will help with investments and technological development, among other things," he said. "Were simply observing the market now."
Cordero Badillo said he would still be making final decisions on Grandes future expansions if the White Rose purchase occurs. White Rose executives have expressed interest in acquiring local independent supermarkets to expand Grande (CB Oct. 18), but Cordero Badillo said the decision is up to him.
Industry insiders estimate that White Rose could purchase from 60% to 75% of Grandes assets, but Cordero Badillo would not disclose an exact figure.
This Caribbean Business article appears courtesy of Casiano Communications.