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Showing posts with the label De Narvaez Group

Walmart online deals are ending in England and Argentina. It's looking for a buyer.

A complex and volatile country and an unprecedented global situation. These factors prompted Walmart's parent company in the United States to decide to end its operations in Argentina. To that end, the chain has mandated it to sell its local subsidiary to Citibank and is already looking for a buyer or potential partner. Interested stakeholders include Coto, the Inverlat Fund (owner of Havanna) and the De Narvaez Group. Although these negotiations began early in the year, they are currently being halted due to the global pandemic. "Earlier this year, we began exploring the possibility of new alliances to advance our business in Argentina and its growth path; a process that was at an early stage but that we were confident could help accelerate our strategy in Argentina," explained Juan Pablo Quiroga, Director of Institutional Relations at Walmart Argentina. And he added that this process was "suspended" because of the need to focus Covid-19 on emergency manag...