Table of Contents As a result of the acquisition of Farmacias Ahumada S.A., Management <strong>de</strong>termined some accounting errors to its consolidated financial statements in accordance with MFRS B-1. The retrospective effect was Ps,114,239 (pesos). Therefore in accordance with MFRS B-1 (Accounting changes and error corrections), the financial statements has been restated at December 31, <strong>20</strong>09 and <strong>20</strong>10 respectively. The error accounting changes to the consolidated financial statements affecting retrospective to Farmacias Ahumada S,A and subsidiaries at December 31,<strong>20</strong>10 was as follows: Previously reported amounts Error corrections Restated amounts Other receivable (1) 585,729 (17,165) 568,564 Property, furniture and equipment, net (2) 2,327,395 (12,788) 2,314,607 Income taxes and employee profit sharing (3) 290,<strong>20</strong>0 (6,678) 283,522 Suppliers (4) 3,056,018 5,474 3,061,492 Other accruals (5) 247,910 53,175 301,085 Employee benefits (6) 59,098 18,959 78,057 Retained earnings (7) 167,654 (114,239) 53,415 The error accounting changes consolidated financial statements effect retrospective to Farmacias Ahumada S,A and subsidiaries at October 3,<strong>20</strong>10 (Pro-form) was as follows: Previously reported amounts Error corrections Restated amounts Other receivable (1) 583,785 (17,165) 566,6<strong>20</strong> Property, furniture and equipment, net (2) 2,374,094 (12,788) 2,361,306 Income taxes and employee profit sharing (3) 282,423 (6,678) 275,745 Suppliers (4) 3,660,555 5,474 3,666,029 Other accruals (5) 366,769 53,175 419,944 Employee benefits (6) 58,781 18,959 77,740 Retained earnings (7) 269,133 (114,239) 154,894 F-18
Table of Contents The errors accounting changes consolidated financial statements effect retrospective to Farmacias Ahumada S,A and subsidiaries at December 31,<strong>20</strong>09 was as follows: Previously reported amounts Error corrections Restated amounts Other receivable (1) 312,366 (15,432) 296,934 Property, furniture and equipment, net (2) 2,523,591 (7,639) 2,515,952 Suppliers (4) 4,046,801 2,303 4,049,104 Other accruals (5) 79,716 43,536 123,252 Employee benefits (6) 70,303 18,959 89,262 Retained earnings (7) 325,023 (87,869) 237,154 The errors accounting changes consolidated financial statements effect retrospective to Farmacias Ahumada S,A and subsidiaries at October 3,<strong>20</strong>09 (Pro-form) was as follows: Previously reported amounts Error corrections Restated amounts Other receivable (1) 281,510 (15,432) 266,078 Property, furniture and equipment, net (2) 2,553,779 (7,639) 2,546,140 Suppliers (4) 3,289,976 2,303 3,292,279 Other accruals (5) 832,416 43,536 788,880 Employee benefits (6) 108,221 18,959 89,262 Retained earnings (7) 264,733 (87,869) 176,864 (1) Due to changes at December <strong>20</strong>08 on tax law, FASA will not recover the taxes paid on divi<strong>de</strong>nd from its subsidiaries in Mexico. (2) Farmacias Ahumada S,A recognized leasehold improvements as assets, In accordance with MFRS C-6 the company shouldn´t recognize these leasehold improvements as assets, because such improvements were expenses. (3) The Mexican subsidiary recognized income taxes related with the error calculate Employee Benefits. (4) Farmacias Benavi<strong>de</strong>s S,A,B <strong>de</strong> C,V Mexican subsidiary <strong>de</strong>duct from account payable the return goods amounts which were not accepted by the supplier (5) In accordance to MFRS C-9, the provisions should be recognize when present, legal or assumed obligations are unavoidable and will require the disbursement of economic resources or can be reasonably estimated, The company register at December 31, <strong>20</strong>09 and <strong>20</strong>08 other Accruals as following (i) register of employee in<strong>de</strong>mnizations; (ii) Expenses for completions fine coming from Peru subsidiary, In accordance with MFRS the adjustment does accomplish with the standards, (6) Farmacias Ahumada S,A, recognized an error on the estimation in employee benefits related with benefits retirement pensions, (7) All accounting error was recognized in Retained Earnings. F-19
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UNITED STATES SECURITIES AND EXCHAN
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TABLE OF CONTENTS PART I Item 1. Id
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Table of Contents We caution you th
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Table of Contents Year ended Decemb
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Table of Contents To the extent tha
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Table of Contents We Provide Remote
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Table of Contents We Are a Holding
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Table of Contents Today, the market
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Table of Contents Any future deprec
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Table of Contents Risk Factors Rela
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Table of Contents In August 2009, A
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Table of Contents In April of 2008,
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Table of Contents The Acquisition h
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Table of Contents On September 19,
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Table of Contents On September 19,
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Table of Contents At our annual gen
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Table of Contents We distribute the
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Table of Contents In our stores, we
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Table of Contents Prior to 2008, th
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Table of Contents In 2011, we conti
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Table of Contents To better serve s
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Table of Contents ● Mexsana talcu
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Table of Contents Payments and Coll
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Table of Contents Information Techn
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Table of Contents In addition to th
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Table of Contents (3) In Mexico, ph
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Table of Contents (4) To calculate
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Table of Contents We also offer our
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Table of Contents The devaluation o
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Table of Contents (****) Associates
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Table of Contents In January 2009 w
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Table of Contents In our Retail Pha
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Table of Contents Inflation and Int
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Table of Contents With the acquisit
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Table of Contents Results of Operat
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Table of Contents Net Income. The G
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Table of Contents On March 25, 2010
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Table of Contents Grupo Casa Saba i
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Table of Contents In the event that
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Table of Contents Grupo Casa Saba h
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Table of Contents Prior to the noti
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Property and equipment Our balance
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Labor obligations Our labor liabili
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Tax and legal contingencies We are
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FRS C-4. “Inventories” (FRS C-4
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Table of Contents As of the transit
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Table of Contents Name and Date of
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Table of Contents Employee Profit S
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Table of Contents Page Representati
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CREDIT AGREEMENT (THIS “AGREEMENT
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(k) To the best of its knowledge, F
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(aa) Any and all funds used by it t
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“Authorized Officer” shall mean
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“Drawdown” shall mean each draw
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“Interest Payment Date” has the
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“Share Pledge Agreement” shall
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(g) The Lenders shall credit the am
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(e) If the Borrower defaults with a
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(iii) concurrently with the deliver
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(j) Maintenance of Property. The Bo
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(ii) To the extent permitted by the
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(ii) date thereof; Liens imposed by
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ARTICLE THIRTEEN. Conditions Preced
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(xxii) neither the execution of the
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(i) Insolvency. (i) If the Borrower
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(b) If as a result of the amendment
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(B) The Chilean Collateral Agent. (
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(iii) Neither the Chilean Collatera
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(h) Effective Term. Unless revoked
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(c) effective. Absent written notic
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This Credit Agreement is executed i
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The Chilean Collateral Agent: HSBC
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(c) If the Central Bank of Mexico s
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Joint and Several Obligations. (a)
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(k) Material Adverse Effect. If the
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Exhibit 4.3 SUMMARY OF THE IRREVOCA
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(6) defend, at its own cost and exp
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(5) the balance remaining after the
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In addition, articles Three, Four a
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(j) deliver, within five (5) days f
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Governing Law and Jurisdiction. Thi
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Servicios Corporativos Doctorgen, S
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Exhibit 12.2 CERTIFICATION I, Juan