Equity International Sells Chile Mall Stake

Real estate private equity manager Equity International (EI) has sold back a 13.5% stake in Chile’s Parque Arauco, a shopping mall owner and operator, to Grupo Said for about $65m. The shop confirmed the deal but could not disclose more information regarding the sale. EI first bought a 12.5% stake in Parque Arauco in September 2006 for about $50m through a new share placement after it was asked by Grupo Said, the founder and primary shareholder of Parque Arauco, to provide growth capital and expertise to accelerate Parque Arauco’s expansion plans. This was its first investment in the southern cone country.