SANTIAGO, Chile--(BUSINESS WIRE)--Parque Arauco S.A. (SSE: PARAUCO)(Bloomberg: PARAUCO:CI) (“Parque Arauco” or “PASA”) announces that it has received and accepted an offer from Ameris Capital Asset Management to incorporate Ameris Rentas Comerciales I Investment Fund as a 49% shareholder in Arauco Centros Comerciales Regionales S.A. (“ACCR”), with PASA maintaining 51% of shares. ACCR, comprised of Arauco Quilicura, Arauco El Bosque, Arauco Coronel and Arauco San Antonio, will continue under the management and control of PASA.
The price of the transaction is 2,721,394 UF (approximately US$ 110 million) and subject to adjustments based on the amount of proportional net financial debt as of the transaction’s closure, currently estimated at 2,926,000 UF (approximately US$ 118 million).
This transaction is dependent on several conditions and has until March 11, 2019, to be completed. One of these conditions is that Ameris is required to sell participation in the fund for at least the total value of the transaction.
Currently, Parque Arauco has 1,065,000 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 8 regional shopping centers, 1 neighborhood center, 4 premium outlet malls and 15 strip centers in Chile; 6 regional shopping centers, 10 neighborhood centers, 2 premium outlet malls and 3 strip centers in Peru; 3 regional shopping centers and 1 premium outlet mall in Colombia, as well as a land bank to contribute to the company’s future growth plans. For more details, visit the company’s website: www.parauco.com.