MEXICO – El Puerto de Liverpool, S.A.B. de C.V. (“Liverpool”) informed the market have that it signed on July 5th an Association Agreement with holding companies of Ripley Corp SA (“the Company”).

The Agreement stipulates that Liverpool is obliged to acquire, either directly or through a wholly owned subsidiary designated for that purpose, all the shares of the Company offered for sale by the Company’s shareholders through a takeover bid (TOB).

For this purpose, within the maximum period of 10 working days from the date the minimum conditions requested by Liverpool have been fulfilled to satisfaction, Liverpool should start a directed TOB to all shareholders of the Company, offering to buy up to 100% of such shares, subject to be considered successful if it succeeds in acquiring at least 493.693.336.- shares, representing 25.5% of the shares subscribed and paid by the Company.

The price per share of the TOB has been reported at the amount of $ 420 Chilean pesos. The transaction is still subject to approval from regulatory agencies but if carried out, Liverpool would lead the department stores industry in Latin America, surpassing Falabella in number of establishments.

At the end of 2015, Falabella operated 103 stores in Chile, Peru, Colombia and Argentina and forty shopping centers in Chile, Peru and Colombia. Meanwhile, Liverpool ended 2015 with 112 stores and 25 shopping centers and with the TOB would add 60 stores operated by Ripley in Chile and Peru.