Ripley eyes selling stake in Nuevos Desarrollos

Ripley eyes selling stake in Nuevos Desarrollos

Debt Corporate & Sovereign Strategy M&A Argentina Chile Peru Latin America Coronavirus

Chilean shopping mall operator Ripley is considering selling its 22.5% stake in Nuevos Desarrollos, a company that operates eight malls in the country, a deal that could fetch it as much as $250 million for investments and paying down debt. The Santiago-based company said its board of directors approved the plans, adding in a securities filing that it has hired Asesorías Tyndall as a financial advisor. The stake is "a passive minority stake" that if sold would provide money for "initiatives of g

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