Santamarina y Steta advises Liverpool on the Association Agreement for the acquisition of Ripley.

Mexico City, Mexico, July 21st, 2016. The Mexican law firm Santamarina y Steta recently advised El Puerto de Liverpool, S.A.B. de C.V. in the Association Agreement that will allow the company to acquire between the 25.5% to a 100% of Ripley Corp S.A. shares through a takeover bid (TOB).

Ripley Corp S.A. is a department store chain that owns 69 stores. Its headquarters are located in Chile but it is also present in Peru. In both countries, Ripley Corp S.A. owns and operates Banco Ripley and participates in the ownership of several shopping malls.

The price per share of the TOB is $420 Chilean pesos and the estimated value of the 100% of Ripley’s shares is $813,142 million Chilean pesos (nearly $1,2 billion dollars).

The Santamarina y Steta team advising Liverpool was led by Alberto Saavedra, managing partner whose practice is focused on the corporate area, including securities and capital markets, foreign investment, mergers and acquisitions, project finance, infrastructure and real estate projects, transnational business transactions, and wills and estates.