Walmart Chile is going to sell its “Espacio Urbano” chain

Walmart Chile
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The Chilean affiliate of the U.S Walmart (Walmart S.A) announced last Thursday the sale of its chain of shopping centers, Known in Chile as “Espacio Urbano”. Their idea is to be concentrate exclusively on its supermarket business, we have to remember that they have the control of the Lider’s chain, one of the main in the country.

According to Reuters Agency information, it will be 10 shopping centers on sale, some 250,000 square meters total, almost 2.69 million square feet.

The centers are located in cities like Antofagasta, Viña del Mar, Santiago, Los Andes, Linares and Punta Arenas.

Even though, Walmart Chile did not informed the valuation of the transaction, the company indicated that 0.6% of its profit come from the leasing of their business premises.

The sale process would be sustain by the financial administrators CBRE and JPMorgan Chase & Co and potential investors from the same country and international ones.

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