Martes, 25 de octubre de 2016

| 2010/01/18 00:00

Chavez Orders Takeover of Venezuelan Exito Stores

Jan 18--Venezuela President Hugo Chavez ordered the expropriation of Hipermercado Exito stores after alleging that the retailer broke the law by raising prices and hoarding goods.

Chavez Orders Takeover of Venezuelan Exito Stores

The South American country will change its laws if needed to take over the retailer owned by Casino Guichard Perrachon SA of Saint-Etienne, France and Almacenes Exito SA of Medellin, Colombia, Chavez said today on state television.

“I order that we develop a dossier and prepare a new law to take over the Exito chain,” Chavez said. “Repricing and hoarding, what is this? You have to respect our house.”

Chavez’s government closed four Exito outlets for a day because the company allegedly increased prices following a Jan. 11 currency devaluation.
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