Falabella CEO Aims to Sell More Assets to Improve Credit Rating

Falabella SA, Chile’s second-largest retail group by sales, expects to close several more “major” asset sales this year as part of its plan to raise $850 million to $1 billion and help improve its credit metrics, said Chief Executive Officer Alejandro González.

The Santiago-based retailer announced this month that it reached an agreement to sell it its stake in mall owner Falabella Peru to Plaza SA, a separate company controlled by Falabella. Plaza, more commonly known as Mallplaza, agreed to raise as much as $300 million via the sale of new shares to buy the stake.

“The Plaza ...