Cencosud has big ambitions for its stock market listing

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16 April 2019 à 11h11

Updated on 10 May 2019 à 16h11

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1 minute

Publication: 16 April 2019 à 11h11, Updated on 10 May 2019 à 16h11

Reading time: 1 minute

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Publication

16 April 2019 à 11h11

Updated on 10 May 2019 à 16h11

Reading time

1 minute

Publication: 16 April 2019 à 11h11, Updated on 10 May 2019 à 16h11

Reading time: 1 minute

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In Chile, the retail giant Cencosud plans to sell up to 30% of the property business for US$1 billion. The Cencosud group, which manages 54 malls and 1,100 stores (Jumbo hypermarkets, Paris and Johnson department stores, etc.) also plans to sell non-strategic assets to improve the structure of its debt and reduce future borrowing costs. By the end of 2019, Cencosud wants to cut its debt to 4 times its EBITDA (currently, it amounts to 5.3 times its Ebitda).

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