December 1, 2020 |
VivoCorp, a commercial real estate company in Chile, said it has reached agreements to sell assets as it raises money to cover upcoming debt payments and finance its investment plans.
The company agreed sell four retail outlets for UF3.4 million ($130 million) to Grupo Patio, a rival real estate developer, according to two securities filings. Patio said it plans to use its own resources and borrow the rest of the funds for the acquisition, which both companies said is due to close in two months.
Chilean commercial real estate firm looks to earn $130 mln to cover debts and fund investments