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Walmart Sells 10 Shopping Malls In Chile To Insurance Companies

May 19, 2016: 12:00 AM EST
Walmart Chile has agreed to sell 10 Espacio Urbano shopping malls to local insurance companies Compania de Seguros Confuturo and Compania de Seguros CorpSeguros. Valued at 441.9 billion pesos, or $639.2 million, the deal covers 250,000 square meters of mall space, accommodating 70 million consumer visits each year. According to Walmart Chile, its Lider and Express de Lider supermarket chains will stay on as tenants in the shopping malls.
Gram Slattery, "Walmart Chile to sell 10 malls for $639 million", Reuters, May 19, 2016, © Reuters
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