Both companies already have “a unique board of directors and executive team”; and established their offices in the commune of Providencia.

In December of last year, and after months of analysis, the National Economic Prosecutor's Office ( FNE) of Chile approved in Phase 2 the concentration operation consisting of the acquisition of control of AD Retail SA - which operates the Abcdin store chain - by of Empresas La Polar.

While the first concentrates on the commercialization of technology, electro and home improvement; the second offers similar varieties with a high focus on clothing.

The FNE ruled out anti-competitive risks that would make mitigation measures required to approve the operation, giving it the green light.

La Polar and Abcdin prepare their merger

Following the above, in January 2024, La Polar presented a new corporate structure to advance the merger with Abcdin.

Currently, according to Diario Financiero , both companies already have “a unique board of directors and executive team”; and established their offices in the commune of Providencia.

The progress of the operation has led to the closure of stores in the capital and regions and, consequently, dismissals of workers.

The aforementioned media detailed that so far this year, three La Polar stores and six Abcdin stores have closed.

In 2023, the first had 39 stores and the second, 74.

In that same period, both had 4,905 employees, a figure that would have decreased to 4,574.

The reductions, it was specified, were informed to those involved internally.

Regarding the merger, they have explained that it will allow them to "face the future, uniting the capabilities of the teams to enhance joint operations, take advantage of synergies and project a long-term business in a sustainable manner."