Plaza acquires whole ownership of Falabella Perú

Falabella Perú's assets include Open Plaza Perú and Mall Plaza Perú, in which it has a majority interest, and which together own 15 shopping centers in Peru.

The acquisition was carried out through a takeover bid launched by Desarrollos Perú, a subsidiary of Plaza, on October 30, for up to 100% of the shares of Falabella Perú.

Falabella had entered into an agreement with Plaza in April of this year for the acquisition by Plaza of all of Falabella's shares in Falabella Perú.

The tender offer expired on December 4. According to information from the Lima Stock Exchange, as a result of the tender offer, Plaza (through Desarrollos Perú SpA) received 3,901,307,326 shares of Falabella Perú, with an approximate value of $454 million.

Falabella was advised on the transaction by Carey Abogados in Chile and Hernández & Cía.

Hernández & Cía. advised both the controlling shareholders of Falabella Perú and the company itself, including its board of directors and management, in all matters relating to compliance with their duties and obligations in corporate and securities market matters.

Hernández & Cía.’s team advising Falabella and Falabella Perú was led by partners Juan Luis Hernández (corporate/M&A) and Fernando Núñez (tax), with principal associates Erick Calla and Gloria Zubizarreta and senior associates María Fe Álvarez-Calderón, Luciano Rebagliati and Vicente Robles (tax).

Carey’s team advising Falabella in Chile was led by partner Cristián Eyzaguirre, while

Falabella and Falabella Perú’s in-house counsel comprised Gonzalo Smith, Javier Allard and Luis Chu.

Rebaza, Alcázar & De las Casas acted as counsel in Peru to Plaza, with a team led by partners

Alberto Rebaza and Felipe Boisset, with senior associates Pedro Díaz and Josefina Arana.