Falabella Strengthens Presence in Colombia with Strategic Acquisition

Falabella SA has acquired a significant minority stake in Organizacion Corona's operations in Colombia for approximately $159 million. The acquisition includes shares in Falabella Retail, Banco Falabella, Agencia de Seguros Falabella Limitada, and ABC de Servicios S.A.S. This deal does not alter the existing joint venture Sodimac Colombia S.A.

In a strategic move, Falabella SA has expanded its foothold in Colombia by acquiring a minority stake in Organizacion Corona's operations for $159 million. This acquisition strengthens Falabella's influence in the region.

The deal includes a 35% stake in Falabella Retail, 31% in Banco Falabella, S.A., 35% in Agencia de Seguros Falabella Limitada, and 35% in ABC de Servicios S.A.S. The acquisition reflects Falabella's commitment to broadening its commercial reach.

Importantly, the transaction does not impact Falabella and Corona's existing joint venture, Sodimac Colombia S.A., which continues to thrive as part of their cooperative efforts in the market.

(With inputs from agencies.)