Latin American Economy & Business - July 2016 (ISSN 1741-7430)

Liverpool buys Ripley stake: Mexican department store chain Puerto de Liverpool said it had signed an agreement with the Calderón family, majority shareholders of Chile’s Ripley chain, under which it would launch an IPO to acquire a 25.5% stake in the Chilean company. Ripley has a network of 69 retail outlets in Chile and Peru. Liverpool said it would pay 420 Chilean pesos per share, which would place an overall value of CLP813.14bn (US$1.23bn) on the Chilean company. If the IPO is successful, Liverpool and the Calderón family will seek to agree joint management of Ripley.