Spanish Supermarket Chain DIA Exits Argentina with $53.8 Million Sale

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The Spanish retail group transfers the subsidiary to the other side of the Atlantic looking to clean up balances and prioritize domestic profitability.

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The supermarket chain based in Madrid has agreed to sell its business in Argentina to the multinational Grupo de Narváez for about 48 million euros, as the group has communicated this Thursday to the National Securities Market Commission (CNMV). The operation, whose closure is planned for November 12, will have a negative accounting impact of 100 million. Day will sell 100% of its subsidiary to Dorinka, owner of the Argentine chain ChangoMore, c…

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(AMP) Grupo Dia sells its business in Argentina for almost 48 million to Grupo de Narváez

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The supermarket chain Dia has taken another step in its transformation. The company has reported this Thursday the sale of its business in Argentina for an amount of 48 million euros (about 53.8 million dollars) to the society Dorikna S.R.L., linked to the Narváez Group that currently operates the establishments of ChangoMore (the old Walmart Argentina).