Falabella Ups Stake in Calama Mall

Chilean retailer Falabella has acquired a 50% stake in Inmobiliaria Mall Calama, of which 25% was purchased from a Ripley subsidiary and the other 25% from a Cencosud subsidiary, the sellers say in separate announcements to the local securities superintendent. The deal, valued at a total of about $40m in cash, increases Falabella’s stake in the mall to 75%, says Banchile equity analyst Patricio Hernandez. He adds that the price Falabella paid is “not a bargain, but is still reasonable.” Spokeswomen from Cencosud and Ripley say that the companies considered the stakes as non-core and sold them to increase liquidity.