By  on March 25, 2019

Chilean retailer Cencosud is considering boosting the size of the initial public offering for its Cencosud Shopping Mall division by 30 percent to $1.3 billion as it works to grow its business to take on Falabella. The latter recently warned it may close “mature stores” in Chile or Argentina as it works to increase online sales.

Santiago-based Cencosud, which runs the hypermarket chain Jumbo and department-stores Paris and Johnson in the Andean region, is also looking to sell non-key assets to improve its debt rating and pare future borrowing costs.

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