Walmart Chile plans to sell shopping center chain
SANTIAGO Oct 1 (Reuters) - Walmart Chile SA is looking to sell its chain of shopping centers to concentrate on its larger supermarket operations in the South American nation, the Chilean affiliate of U.S. retail giant Wal Mart Stores Inc said Thursday.
The plan would include the sale of 10 "Espacio Urbano" shopping centers throughout Chile, totaling some 250,000 square meters (2.69 million square feet).
Walmart Chile did not give an estimated value for the assets, but said it currently earns 0.6 percent of its income from renting retail space in the malls.
The company controls Lider, Chile's principal supermarket chain, and participates in several other fields including finance and food services.
The sale process would be supported by CBRE and JPMorgan Chase & Co, and potential investors sought both in Chile and abroad, it said. (Reporting by Felipe Iturrieta; Writing by Gram Slattery; Editing by Stephen R. Trousdale)
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