Santiago, 30 October 2024.- Desarrollo Perú SpA, a subsidiary of Plaza SA, launched a Public Share Offering (PSO) to acquire Falabella Perú SAA, the company that controls 100% of Open Plaza Peru operations and 66.6% of Mallplaza in Peru.
The company expects to acquire all Falabella Peru SAA shares with its offer to pay USD 455,237,818, equivalent to USD 0.11641713 per share, according to the terms of the Framework Agreement signed by Plaza SA and Falabella. The PSO will be in effect until 16:00 on 28 November 2024.
“We are very excited about the progress of this transaction, which we hope to conclude satisfactorily and in full in December and will allow Mallplaza to consolidate itself as the second largest shopping center operator in Peru in terms of square meters of GLA, with 619,000 m2 in the country and a total of 2.3 million m2 of GLA in the region. While we are currently focused on closing this deal successfully, we have been evaluating existing business opportunities to enhance the value propositions and attract important tenants that allow us to offer our customers the best possible experience based on our knowledge of and experience in the Peruvian market,” explained Fernando de Peña, CEO of Plaza SA.
Mallplaza has an important plan for the Andean region, with organic growth in Peru standing out with the proposed incorporation of 100,000 new square meters of GLA within 5 years.
“With the progress made in Peru, we are consolidating our growth strategy in the Andean region thanks to a large-scale platform and an experience-centered business model. This has allowed us to become the main partner for high-value brands and attract highly diversified tenants,” the executive added.
