SANTIAGO (Reuters) - The owner of Chile-based Cencosud, a leading regional retailer, said on Monday his company was ready to compete with Wal-Mart, the world's largest retailer as it prepares to enter the Chilean market.

"Cencosud has always been up and ready. I've never seen Paulmann not ready for action," owner and controlling shareholder Horst Paulmann said of himself to reporters.

On Friday, Wal-Mart <WMT.N> reached an agreement with the controlling shareholders of D&S <DIS.SN> <DYS.N>, Chile's largest supermarket operator, to launch an all-cash takeover valued at some $2.7 billion.

Analysts have speculated that Cencosud, which operates supermarkets, department stores and home improvement stores, stands to lose the most with Wal-Mart's arrival in Chile.

D&S dominates Chile's supermarket industry, with about a third of market share, while Cencosud runs a close second, with the two retailers controlling over half of Chile's supermarket sales.

Earlier this month, Cencosud said its Chief Executive Laurence Golborne would resign effective January 31, and that Paulmann's oldest son, Manfred, would become vice president of the board.

The action was viewed with some skepticism because Golborne was seen by the market as the driving force behind Cencosud's transformation from a local retailer into a regional powerhouse.

In January, Chile's anti-trust tribunal nixed the acquisition of D&S by Chilean diversified retailer Falabella <FAL.SN>, saying the deal would hurt consumers.

(Reporting by Antonio de la Jara, Writing by Lisa Yulkowski, Editing by Toni Reinhold)

Publié le 22 Décembre 2008 Copyright © 2008 Reuters