Patio sells assets

Patio sells assets

Corporate & Sovereign Strategy Debt M&A Chile Commerce

Chilean shopping mall operator Patio Comercial said it has sold a 51% stake in its Rentas Patio X unit for UF4.4 million ($167 million), helping to reduce its debt. Patio said it sold the stake to Inversiones y Rentas LVM, without providing further details about the buyer in a brief securities filing. The proceeds from the sale will reduce the company's debts by UF3.3 million, it added. Patio Comercial has 72 shopping outlets in Chile. The company is controlled by Grupo Patio, which has interest

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