December 1, 2020 |
Chile's Cencosud said its board unanimously approved plans to sale shares in the retail company's Brazilian unit between March and July of next year, joining a flurry of initial public offerings (IPOs) in South America's largest economy.
The company will start the process to sell a "minority percentage" in the Brazilian business, which operates the Bretas, GBarbosa and Prezunic supermarket chains and Perini delicatessens, according to a securities filing.
"The resulting funds will be used to str
Chilean retailer plans to use the proceeds to expand its supermarket business in South America's largest economy