Joint venture in Columbia

Cencosud and Casino plan to enter the Columbian DIY retail business in tandem, so paving the way for a possible entry into the markets of other countries in Latin America. Cencosud has a 70 per cent stake and Casino 30 per cent in their joint venture, which is to be capitalised with US $ 200 mio over the next five years. The Chilean Cencosud Group is a leading retail enterprise in Argentina and Chile, numbering 486 outlets that include 50 Easy DIY stores. The French Casino Group's activities are mainly in grocery retailing. Its operations cover 9 645 outlets in eleven countries. In Columbia the group has a stake in Exito, which company information describes as the biggest grocery retailer in the country.