Falabella S A : Public Declaration in relation to the request presented by the FNE
December 31, 2021 at 09:47 am EST
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Public Statement
In relation to the request against Falabella, Banco de Chile, Consorcio and Hernán Büchi presented by the National Economic Prosecutor (Fiscalía Nacional Económica) for alleged violation of the prohibition of horizontal or direct interlocking, consisting of the simultaneous participation of the same board member or relevant executive in two or more competing companies, appealing to the simultaneous participation of Mr. Büchi in the companies mentioned as competitors in the offer of financial products and services, Falabella declares:
• Hernán Büchi is a board member of the parent company Falabella S.A. and he is not a board member of Falabella Inversiones Financieras S.A. nor of its subsidiary Banco Falabella Chile, entities that have their own board of directors and their own corporate governance, which operate in accordance with the law and banking regulations.
• Likewise, Hernán Büchi has not participated in any board meeting or activity of Falabella Inversiones Financieras S.A., nor of its subsidiary Banco Falabella.
• In addition, to guarantee compliance with the interlocking regulation, Falabella S.A. maintains controls according to which its board of directors does not receive commercially sensitive or strategic information from any of its affiliates or their subsidiaries, including Banco Falabella.
• Falabella is convinced that it will demonstrate before the Antitrust Court (Tribunal de Defensa de la Libre Competencia) its strict compliance with the rules on interlocking.
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Falabella SA published this content on 31 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 December 2021 14:46:00 UTC.
Falabella SA, formerly SACI Falabella, is a Chile-based company managing an online and offline retail platform. It operates seven business segments: Department Stores, Home Improvement, Supermarkets, Promotora CMR, Real Estate, Banking Business and Other Businesses. Department Stores sales, under the Falabella brand, a range of products, including retail sales of clothing, accessories and products for the home, electronics, beauty products and others. Home Improvement sales, under the Sodimac brand, building and home improvement products, including building materials, hardware, tools, and accessories for kitchen, bathroom, garden and decoration, among others. Supermarkets manages hypermarkets and supermarkets under the Tottus brand. Promotora CMR provides the CMR credit card. Real Estate operates constructing and leasing malls. Banking Business covers all banking activities. Other Businesses includes all the other activities. The Company operates in Latin America.