Park Arauco acquires Megaplaza



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Arauco Park informed that it reached a purchase agreement with the Wiese Group 50% of the shares of Pan American Properties (IPSA), which operates the eleven shopping centers Megaplaza.

The transaction is approximately $ 120 million and is due to be completed before April 29. Before the agreement, Arauco Park I was 50% MegaPlaza Peru and the Wiese Group the remaining 50%.

As a result of the purchase, Arauco Park will indirectly own 100% of Panamericana Properties, which controls all Megaplaza: MegaPlaza Norte, Chimbote, Cañete, Pisco, Jaén, Huaral, Villa El Salvador I, Villa El Salvador II, Villa Chorrillos, Chincha and Barranca.

Arauco it's him Wiese Group Each of them will maintain 50% of the property in the real estate projects located in Huaraz and San Juan de Lurigancho. Arauco Park entered Peru in 2006 in a joint strategy with the Wiese Group.

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