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Business | 23 October, 2009 [ 17:54 ]

Peru: Ripley Stores announce injection of capital of more than US $130 million


LivinginPeru.com
Isabel Guerra

Chilean firm Tiendas Ripley (Ripley Stores) which currently operates in Chile, Peru and Mexico, approved an injection of 72.508 million pesos (more than US$ 134 million), as reported today by the Superintendency of Securities and Insurance (SVS).

The operation includes a capital increase of about $ 111 million, through the issuance of more than 27.159 million new shares, and the capitalization of about US $ 23 million profit of the company, as the Board of Shareholders agreed last Wednesday.

Andres Roccatagliata, General Manager, said that these resources will be used to finance the expansion of all company businesses.

Reportedly, this is a transaction between subsidiaries of Ripley Corp., the parent company, which "will not affect its assets, property or the amount of shares."

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