Enfoca Inversiones in Sale of Peruvian Home Improvement Company
September 17, 2014
Cleary Gottlieb advised Enfoca Inversiones in its sale of 100% of the shares of Maestro Perú S.A., a Peruvian home improvement store operator, to Sodimac Perú, an indirect wholly owned subsidiary of Chilean retailer SACI Falabella. The transaction, valued at 1.4 billion Peruvian soles ($492 million), signed on September 12th and closed on the Lima Stock Exchange (Bolsa de Valores de Lima) on September 17. Sodimac and Maestro are the two largest home improvement specialty retailers in Peru with combined sales on a pro forma basis of more than $1 billion. Maestro Perú had 2013 revenues of $514 million and operates 30 home improvement stores across Peru.