Chile banks regulator may decide on Liverpool, Ripley deal within weeks

The Mexican department store chain on Tuesday said it had reached an agreement to acquire Ripley in a deal that values the target at 813 billion Chilean pesos (US$1.2 billion).

(Photo: Reuters)
English 07/07/2016 20:21 Reuters Actualizada 20:21

Chile's banking regulator said on Thursday that it could decide within weeks on whether to give the green light to Mexican high-end department store chain Liverpool's planned acquisition of retailer Ripley RIP.SN.

Santiago-based Ripley has 69 stores in Chile and Peru, and units in retail, financial services and shopping malls, making approval from the local banking regulator a necessary step.

"If we have all the information we need to make a decision, that will be soon, we're talking a matter of weeks," head of Chile's banking authority Eric Parrado told journalists at a business event.

The companies have not yet formally requested approval from the banking regulator.

Liverpool on Tuesday said it had reached an agreement to acquire Ripley in a deal that values the target at 813 billion Chilean pesos (US$1.2 billion).

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