The closing of the acquisition is subject to certain usual conditions precedent in this type of transaction. One of them is that the shares are acquired by MallPlaza (or an affiliate) through a prior public takeover bid that MallPlaza (or an affiliate) will launch in October or within the second half of this year. The total price to be offered under the takeover bid will be determined based on the economic value of Falabella's assets as of December 31, 2023, equivalent to USD 589,415,800, which will be corrected and updated in accordance with the terms of the aforementioned framework agreement.
Falabella is the owner of Open Plaza Perú S.A. and 66.6% of Mall Plaza Perú S.A. Likewise, within Falabella's assets there are 15 shopping centers located throughout Peru.
With the potential acquisition of Falabella shares, MallPlaza would consolidate the operation of approximately 619,000 leasable m2 in Peru.
The operation is a business consolidation and is not subject to authorization from INDECOPI or the CMF in Chile, considering that MallPlaza and Falabella are part of the same economic group and are controlled by Falabella S.A., a company incorporated in Chile.
Falabella is a Peruvian company with 30 years in the market, dedicated to providing department store management services and real estate activities.
MallPlaza legal advisors
Rebaza, Alcázar & De Las Casas (Peru): Partners Alberto Rebaza and Felipe Boisset. Senior Associates Pedro Díaz, Andrea Pinillos and Josefina Arana.
Prieto Abogados (Chile): Partners Fernando Bravo, Fernando Samaniego and Isabel Wolleter Eguiguren. Associate Tomás Ochagavía Allendes.
In-house Lawyers: Hernán Silva and Raimundo Figueroa
Legal advisors Falabella
In-house Lawyers: Gonzalo Smith, Javier Allard and Luis Chu
Hernández & Cía (Peru): Partners Juan Luis Hernández and Fernando Nuñez. Associates Gloria Zubizarreta, Erick Calla and Vicente Robles.
Carey (Chile): Partner Cristián Eyzaguirre. Associates Ignacio Alfaro and José Pedro Fuentealba.