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Parque Arauco finalizes sale of 49 percent participation in Arauco Centros Comerciales Regionales SpA


Parque Arauco S.A. (SSE: PARAUCO) (Bloomberg: PARAUCO:CI) (Parque Arauco or PASA) announces that it has sold 49% participation in Arauco Centros Comerciales Regionales S.A. (ACCR) to Ameris Parauco Investment Fund (formerly Ameris Rentas Comerciales I Investment Fund), managed by Ameris Capital Asset Management.

ACCR, comprised of malls Arauco Quilicura, Arauco El Bosque, Arauco Coronel and Arauco San Antonio, will continue under the management and control of PASA, which maintains 51% of shares.

The price of the transaction is 2,721,394 UF (approximately US$ 115 million) subject to adjustments based on the amount of proportional net financial debt at the close of January 31, 2019. The transaction will result in a profit after taxes for Parque Arauco of approximately US$ 60 million, which according to IFRS 10 will be recognized directly in equity and not as profit in the income statement.

Currently, Parque Arauco has 1,053,000 m2 of total GLA in Chile, Peru, and Colombia. The company inaugurated its first shopping center in Chile in 1982, entered Peru in 2005 and Colombia in 2008. The companys assets include 8 regional shopping centers, 1 neighborhood center, 4 premium outlet malls and 15 strip centers in Chile; 6 regional shopping centers, 10 neighborhood centers, 2 premium outlet malls and 3 strip centers in Peru; 3 regional shopping centers and 1 premium outlet mall in Colombia, as well as a land bank to contribute to the companys future growth plans. For more details, visit the companys website:

Tori Creighton
Head of Investor Relations
2) 2299 0608

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