Authorities in Costa Rica confirmed their judgment against Walmart's request to buy the supermarket chain Gessa, ending the case through administrative channels.
At the beginning of December 2018, the Commission for the Promotion of Competition (Coprocom) denied Walmart the request to purchase the Gessa group. Days later, the two companies involved in the transaction filed two appeals to overturn the decision.
In response to the brake placed by the Commission for the Promotion of Competition on the purchase of Gessa by Walmart, in Costa Rica both companies presented two independent appeals that seek to revoke the blockade of the transaction.
Last week, the Commission for the Promotion of Competition (Coprocom) denied Walmart the purchase request of the supermarket group Gessa, and just days later, on December 10th, the two companies participating in the transaction filed two appeals to overturn the judgment.
Arguing that there are risks that the economic agent will affect market prices, in Costa Rica the Commission for the Promotion of Competition denied Walmart the request to purchase the supermarket group Gessa.
Representatives of the Commission for the Promotion of Competition (Coprocom) informed that the decision was taken unanimously on December 4th and the parties were notified the following day.
In Costa Rica, Walmart has agreed to buy the supermarket chains Perimercados, Súper Compro and the Saretto store, until now owned by Grupo Empresarial de Supermercados.
Walmart Mexico and Central America reported that the transaction was presented on July 19 to the Commission for the Promotion of Competition (Coprocom), which must evaluate and authorize it.