Cencosud Sells Mall Plaza Stake

Chile’s second-largest retailer, Cencosud, has finally reached an agreement to sell off its 22.55% stake in shopping center operator Mall Plaza to fellow shareholders. Cencosud sold its share in the operator for $135 million to shareholders that include leading retail chain Falabella. Cencosud acquired its stake in Mall Plaza when it bought department store chain Paris at the start of last year.