Image default
International Latest News Retail News Supermarkets

Aruba, The supermarket chain Walmart lost the battle in front of the farmers and groups of retailers

The supermarket chain Walmart lost the battle in front of the farmers and groups of retailers in the case where it tried to merge with Gessa.

A powerful economic agent could create risks in “impact on prices, condition suppliers and exclude competitors in the market”, according to the refusal.

That is why the Commission to Promote Competition (Coprocom) concluded with a final reject.

Meanwhile, Walmart responded with a statement they had made weeks ago when they rejected the union the first time. In this they said that the Coprocom makes a wrong analysis about the situation of Gessa and puts at risk hundreds of jobs and also harms consumers, who will see their options reduced.

The president of the Commission, Rodolfo Cheves, told the local press that basically, the previous agreement and the allegations of Walmart are rejected.

The supermarket giant announced on July 20, 2018, that it agreed to purchase the Perimercados and Súper Compro chains, as well as the Saretto store to the company Grupo Empresarial de Supermercados (Gessa). However, this transaction required the approval of Coprocom.

It was said that with the merger, Walmart would take over 277 of the 373 existing supermarkets.

Related posts

Brits expected to spend £12,384 per second on Black Friday

admin

Picosun Sweeps Through China With Over 20 New Customers

admin

Ahold Delhaize announces departure of Hanneke Faber as Chief eCommerce and Innovation officer

admin