Parque Arauco to sell 49% stake in Parque La Colina and Parque Caracoli

Fondo de Inversion Colectiva Inmobiliario INMOVAL agreed to acquire a 49% stake and fiduciary rights in Parque La Colina and Parque Caracolí shopping malls from Parque Arauco Colombia SA and Inversiones Inmobiliarias Bucaramanga Arauco SAS for 588 billion Colombian pesos, excluding debt.

Parque Arauco Colombia and Inversiones Inmobiliarias Bucaramanga Arauco are affiliates of Parque Arauco SA

Parque Arauco will maintain the remaining 51% ownership with control, administration and operation of these shopping malls.

The profit from the transaction, which is subject to review by the Superintendent of Industry and Commerce of Colombia, will be 185 billion pesos.

Fondo de Inversion Colectiva Inmobiliario INMOVAL is an affiliate of Credicorp Capital Colombia SA.

As of Jan. 27, US$1 was equivalent to 3,628.70 Colombian pesos.