SANTIAGO, Chile--(BUSINESS WIRE)--Parque Arauco S.A. (SSE: PARAUCO) (Bloomberg: PARAUCO:CI) announces that its fully owned subsidiary, Inmuebles Comerciales del Peru S.A.C. (“ICP”) has sold to Inversiones Centenario S.A.A. (“Centenario”) the entirety of its shares in Inmobiliaria San Silvestre S.A. and Administradora Camino Real S.A.C., as well as the rights it has in three properties that the company maintains in co-ownership with Centenario. Likewise, its fully owned subsidiary Parque El Golf S.A.C. (“PEG”) has sold to Centenario the rights it has in two properties that the company maintains in co-ownership. The properties are located in the San Isidro neighborhood of Lima, Peru.
The price of the transaction is approximately US$ 78 million and the profit after taxes will be approximately US$31 million. Parque Arauco maintains a land bank in Chile, Peru and Colombia to support the company’s future growth. After this divestment, the company has a land bank, valued at cost, of US$148 million.
Parque Arauco has 1,012,000 m2 of total GLA in Chile, Peru, and Colombia. The company inaugurated its first shopping center in Chile in 1982, entered Peru in 2005 and Colombia in 2008. The company’s assets include seven regional shopping centers, four premium outlet malls and fourteen strip centers in Chile; six regional shopping centers, ten neighborhood centers, two premium outlet malls and two strip centers in Peru; and three regional shopping centers, and one outlet in Colombia as well as a large land bank to support the company’s future growth plans. For more details, visit the company’s website: www.parauco.com.
