April 2, 2019 |
Chilean shopping mall company increases its stake in Peru's IPSA to 85% for $120m
IPSA directly or indirectly controls all the MegaPlaza malls in Peru: MegaPlaza Norte, Chimbote, Cañete, Pisco, Jaén, Huaral, Villa El Salvador I, Villa El Salvador II, Villa Chorrillos, Chincha and Barranca.
Parque Arauco entered into Peru in 2006 through a joint venture with the Wiese Group. The two companies have built 11 malls in Peru and they will still develop shopping centers in Huaraz and San Juan de Lurigancho, Parque Arauco said.
Parque Arauco also said it has completed the sale of 49% in Arauco Express to Banchile for UF1.08m ($42.9m).