Under the advice of Carey Abogados in Chile and Hernandez & Cia. in Peru, in April 2024 Falabella signed an agreement with Plaza for the acquisition by Plaza of all of Falabella’s shares in Falabella Peru. Falabella Peru’s assets include Open Plaza Perú S.A. and Mall Plaza Perú S.A. (with a majority stake), companies that own 15 shopping centers in Peru.
The acquisition operation has been executed through a Tender Offer, launched by Desarrollos Peru SpA, a subsidiary of Plaza, on October 30, 2024, for up to 100% of Falabella Perú’s shares.
Within the framework of the OPA, Hernandez & Cia. has advised both the controlling shareholders of Falabella Peru and the company itself, including the Board of Directors and Management of the company, in everything related to the fulfillment of their duties and obligations in corporate and stock market matters.
The validity of the Tender Offer ended on December 4, 2024. According to information from the Lima Stock Exchange, as a result of the Tender Offer, Plaza (through Desarrollos Peru SpA) was awarded 3,901,307,326 shares of Falabella Perú (for an approximate value of US$454MM).
The Tender Offer will be settled on December 10.
Our team participated in the advisory as advisors to Falabella and Falabella Perú:
Partners: Juan Luis Hernández and Fernando Núñez.
Principal associates: Erick Calla and Gloria Zubizarreta.
Senior associates: María Fe Álvarez-Calderón, Luciano Rebagliati and Vicente Robles.