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Liverpool Agrees Ripley's Acquisition

Author:Latin Lawyer
Profession:Carey
 
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Santamarina y Steta in Mexico City, Carey in Chile and Muñiz Ramírez Pérez-Taiman & Olaya in Lima have helped Mexican department store chain Liverpool acquire a majority stake in Chilean counterpart Ripley.

The Calderon Volochinsky family, with help from Cariola, Díez, Pérez-Cotapos & Cía Ltda in Santiago, agreed to sell their 53 per cent stake in Ripley for 813 billion Chilean pesos (US$1.2 billion) on 7 July. The deal is expected to receive regulatory approval within weeks.

Ripley has maintained a diverse business portfolio, despite exiting Colombia earlier this year after posting net losses of around US$70 million in 2015. As well as owning 69 stores in Chile and Peru, the company offers financial services and manages shopping malls.

The deal is one of the largest cross-border acquisitions to take place in Latin America this year. It follows a trend that has seen large companies consolidate their assets in the region and look for cost efficiencies,...

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