Cencosud Advances Equity Raise

Cencosud Advances Equity Raise

Chile Equity

Shareholders of Cencosud have approved a $1.5bn equity capital increase, the Chilean retailer says, part of a plan to pay for its recently announced purchase of Carrefour’s Colombian assets. In the process, the controlling Paulmann family plans to exercise its rights, meaning there will be much less than the total amount available for the general market. The increase should take place in late December or January. Cencosud is also preparing a $1bn cross-border bond sale to fund the acquisition. A

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