Cencosud Buys Peru's Wong for Cash, Stock

Cencosud Buys Peru's Wong for Cash, Stock

Chile

Chile's Cencosud is acquiring leading Peruvian retailer Grupo Wong in a transaction worth $500m equity value. The Wong family, which owns 96.83% of Grupo Wong, will get 49.75m shares of the Chilean retailer under the deal, which is valued at 2,000 pesos a share. Credit Suisse was the sole bank involved as Cencosud apparently did not use an advisor. Wong controls 62% of Lima's retail market. Cencosud is also in the market with a $490m 5-year amortizing loan to pay for the acquisition of Brazilian

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial