Plaza S.A. signed memorandum of understanding to acquire Falabella Perú S.A.A. from Falabella S.A. and others for approximately $590 million.

Plaza S.A. (SNSE:MALLPLAZA) signed memorandum of understanding to acquire Falabella Perú S.A.A. (BVL:FALABEC1) from Falabella S.A. (SNSE:FALABELLA) and others for approximately $590 million on November 20, 2023. As of April 15, 2024, Plaza S.A. (SNSE:MALLPLAZA) signed definitive agreement to acquire Falabella Perú S.A.A. (BVL:FALABEC1). The transaction will be financed with a combination of cash, debt and a capital raise in Plaza S.A. for up to $300 million.

JP Morgan Securities LLC acted as exclusive financial advisor to Plaza S.A. on the transaction and Link Capital Partners acted as a financial advisor to Falabella. JP Morgan Securities LLC delivered a fairness opinion to the Board of Directors of Plaza S.A. and Itaú Asesorías Financieras Limitada to the Board of Directors of Falabella.