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De Narváez Advances on Carrefour Argentina Bid as $100 Million Legal Claim Emerges

Deutsche Bank plans to pick a buyer before early 2026 with offers valuing the unit at about $800 million to $1 billion.

Overview

  • Francisco de Narváez has agreed to sell his Uruguayan chain Ta‑Ta to Paraguay’s Grupo Vierci for an estimated $150–$200 million while lining up L Catterton, IRSA and local bank financing to back his offer.
  • A fideicomiso from Ribera Desarrollos, linked to his brother Carlos, asserts rights at Carrefour’s Vicente López site with potential exposure near $100 million, a dispute reported to risk affecting price and timing.
  • Deutsche Bank is running a competitive process with non‑binding bids from GDN, Coto, Klaff Realty and Intercorp, and it expects to decide before the first quarter of 2026 as Cencosud has formally withdrawn.
  • Sources indicate GDN’s plan would retain the Carrefour brand for hypermarkets and convert some Express stores to Changomás to integrate formats and logistics.
  • Analysts estimate the Argentine unit at $800 million to $1 billion, and a GDN–Carrefour combination could approach one‑third of supermarket sales if regulators clear a merger.