M&A

12 November, 2009

Chile's Dersa group sells $237 mln Falabella stake

SANTIAGO, Nov 12 (Reuters) - Chilean holding group Dersa sold a 2.1 percent stake in leading Chilean retailer Falabella FAL.SN on Thursday via auction, raising $237 million to develop new businesses, the group said in a statement.

Dersa, the main shareholder in Falabella, reduced its stake in the company to 20.2 percent via the sale, which was oversubscribed threefold, the group said. Local pension funds and foreign investors bought the lion's share of the 50 million shares Dersa auctioned.

Shares in Falabella were 0.76 percent weaker at 2,510 pesos each in midsession trade. (Writing by Simon Gardner, editing by Gerald E. McCormick)

Source: http://www.reuters.com