Carey advised Mexican retailer in tender offer for Chilean rival
Carey advised Liverpool, the Mexican retail chain, in a tender offer for Ripley, the Chilean department store.
The deal, reportedly valued at $1.2 billion, would give Liverpool 100% control of Ripley upon completion.
El Puerto de Liverpool, better known as Liverpool, is a mid-to-high end retailer which operates the largest chain of department stores in Mexico.
Ripley is a Chilean department store, financial services, and shopping mall operating company. It is headquartered in Santiago de Chile and also has operations in Mexico and Peru. The company exited Colombia earlier in 2016 due to lower-than-expected results.
Partners Jorge Carey and Salvador Valdes led the Carey team acting as Chilean counsel to Liverpool. The Mexican company also instructed Santamarina & Steta in Mexico and Muñiz, Ramirez, Perez Taiman & Olaya in Peru.
Cariola Diez & Perez-Cotapos acted as Chilean counsel to the Calderón family, majority shareholders of Ripley.
