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Mexico's Femsa to buy Chile pharmacy chain Cruz Verde for US$1 bln

13/08/2015
11:25
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Cruz Verde is the South American country's largest pharmaceutical chain, with more than 590 branches.

Mexican retail group Femsa is close to sealing an agreement to buy privately owned Chilean pharmacy chain Cruz Verde for about US$1 billion, Chilean newspaper Pulso reported on Thursday.

Talks are in the final stretch, and the deal is expected to be announced on Thursday or Friday, coinciding with a visit by Chilean President Michelle Bachelet to Mexico, the newspaper said, citing a source with knowledge of the situation.

Cruz Verde is the South American country's largest pharmaceutical chain, with more than 590 branches, according to its website. It is family-run and was founded in the 1980s.

Femsa owns the Oxxo chain of convenience stores and Latin America's largest Coke bottler, Coca-Cola Femsa. It also operates around 600 pharmacies in Mexico through its YZA and Moderna brands.

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