Reuters: Mergers News: STXNEWS LATAM-Chile's Cencosud, Brazil retailer deny takeover talk

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STXNEWS LATAM-Chile's Cencosud, Brazil retailer deny takeover talk Apr 3rd 2012, 19:23 Tue Apr 3, 2012 3:23pm EDT Chilean diversified retailer Cencosud and Brazilian supermarket chain DMA Distribuidora denied a report by a Brazilian newspaper on Tuesday that they were discussing a takeover by the Chilean retailer. Valor Econômico reported that Cencosud had agreed to buy DMA Distribuidora for 1.3 billion reais ($714 million), including debt. Cencosud and DMA representatives said the report was not correct and declined further comment. The Chilean retailer has grown quickly into Brazil's fourth-largest supermarket chain with a string of acquisitions in the past two years. Last month Cencosud shareholders approved a capital increase that could raise up to $1.8 billion to finance its aggressive growth strategy.

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