SANTIAGO, Chile–(BUSINESS WIRE)–Parque Arauco S.A. (SSE: PARAUCO) (Bloomberg: PARAUCO:CI) (“Parque
Arauco” or “PASA”) announces the sale of 9 percent participation in
Arauco Chillán SpA, to Ameris Parauco Investment Fund, represented by
Ameris Capital Administradora General de Fondos S.A. This is in addition
to the 40 percent participation previously announced and sold in April
2019 to the same fund.
Arauco Chillán SpA operates the mall Arauco Chillán and will continue
under the management and control of PASA, with the remaining 51 percent
participation. Arauco Chillán SpA currently has UF 1,250,000
(approximately US$ 49 million) in debt.
The price of the transaction is UF 238,400 (approximately US$ 9.5
million) and will result in a profit after taxes for Parque Arauco of
approximately Ch$ 5.2 billion (US$ 7.5 million). According to IFRS 10,
this profit will be recognized directly in equity and not as profit in
the income statement.
Currently, Parque Arauco has 1,057,500 m2 of total GLA in
Chile, Peru, and Colombia. The company inaugurated its first shopping
center in Chile in 1982, entered Peru in 2006 and Colombia in 2008. The
company’s assets include 8 regional shopping centers, 1 neighborhood
center, 4 premium outlet malls and 15 strip centers in Chile; 6 regional
shopping centers, 9 neighborhood centers, 2 premium outlet malls and 3
strip centers in Peru; 3 regional shopping centers and 1 premium outlet
mall in Colombia, as well as a land bank to contribute to the company’s
future growth plans. For more details, visit the company’s website: www.parauco.com.
Contacts
Tori Creighton
Head of Investor Relations
[email protected]
(56
2) 2299 0608
