The Chilean mall operator plans to spend a total of US$455.23 million.

Mallplaza, the Chilean shopping center operator, launched this afternoon a Public Offer for the Acquisition of shares (OPA) to acquire Falabella Perú, a company that controls 100% of the operations of Open Plaza Perú and 66.6% of Mallplaza in Peru.

The company, through a statement, reported that it expects to acquire all of the shares of Falabella Perú, offering to pay US$ 455.23 million, equivalent to a price of US$ 0.11641713 per share, in accordance with the Framework Agreement signed by Plaza SA (Mallplaza) and Falabella. The takeover bid will be valid until 4:00 p.m. on November 28, 2024.

“We are very excited about the progress of this operation, which we hope to conclude completely and satisfactorily in December and which will allow Mallplaza to consolidate itself as the second largest operator of shopping centers in Peru, in terms of square meters of GLA, reaching 619 thousand m2 and a total of 2.3 million m2 of GLA in the region. Today, although our focus is to successfully close this operation, we have been evaluating the commercial opportunities that exist to enhance the value propositions and attract relevant commercial partners that allow us to provide the best experience to our customers, given the knowledge and experience that we already have of the Peruvian market,” explained Fernando de Peña, general manager of Plaza SA

In this sense, Peru stands out in Mallplaza's plan for the Andean region, highlighting organic growth. In this market, the company plans to add 100,000 new square meters of GLA within a period of up to 5 years.

“With the progress in Peru, we are consolidating our growth strategy in the Andean region thanks to a large-scale platform and a business model focused on experience. This allows us to be the main partner for high-value brands and to have highly diversified business partners,” added the executive.