Chile’s Falabella, Forus & Salfa Corp to Invest $25 Million in Peru

(LIP-ir) — As they continue with their expansion plan in Peru, Chilean companies Falabella, Salfa Corp and Forus announced new investments amounting to $25 million for the next months, reported Chile’s El Mercurio daily today.

The Falabella group has announced plans to invest $20 million in the construction of a mall in Cusco.

To begin this multi-million dollar project, Malls Peru S.A, a subsidiary of Falabella Peru, has purchased a 10,000 square-meter (32,808 sq ft) piece of land in Cusco.

Meanwhile, Forus paid $1.6 million for a license to operate the Hush Puppies brand in all of Peru. The company announced that after due diligence it is to exclusively sell Hush Puppies products in Peru, which is currently handled by Tiendas Internacionales Global Retailing.

“The transaction will include the buying of fixed assets and inventories as well as the transfer of the rent contracts of 16 shops that now market Hush Puppies products, plus a distribution center and offices”, the company explained.

Forus began investing in Peru this year and manages a Nine West as well as a Rockford shop in Jockey Plaza shopping center in Lima.

A third Chilean firm, the construction and real estate company, Salfa Corp purchased eighty percent of HV SA Contratistas, for $2.8 million.

“The transaction is subject to due diligence, which has to end in 45 days”, pointed out SalfaCorp general manager, Francisco Javier Garcés.

News source: ANDINA