Peru’s Wong family sold 49.75 million shares of Cencosud

Isabel Guerra

Peruvian Wong family, owners of the Wong Group, sold 49.75 million shares of its Chilean retail holding company Cencosud, which equals to 2.28% of the retailer.

The sale was made on the Santiago Stock Exchange, and the shares were priced at 2,055.00 pesos each, totaling 200.99 million dollars.

According to the Chilean Web site emol.com, the auction was conducted by LarrainVial broker and the money involved in the transaction (US$ 200.99 million) was deposited by ValorFuturo.

This operation means the end of any direct Wong family involvement in Cencosud, as stated in the agreement that was signed in 2007, when Cencosud paid 300 million dollars in cash and 200 million dollars in shares for the control of Supermercados Wong.

Cencosud has a strong presence in the supermarkets business, department stores, home improvement stores and shopping malls, and is operating in Chile, Argentina, Brasil and Peru.

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