Falabella S.A. (SNSE:FALABELLA) is exploring the option of integrating its shopping centres in Peru with one of its subsidiaries -- mall operator Plaza S.A. (SNSE:MALLPLAZA). The parties have signed a memorandum of understanding (MoU) with the objective of evaluating the acquisition of Falabella Peru's real estate assets by Mallplaza, the companies announced in separate statements. The companies have set a 120-day deadline to negotiate the terms and conditions of a deal that will see Mallplaza take over the management of 11 Open Plaza Peru shopping centres.

Mallplaza already owns 33.3% of the target entity Mallplaza Peru SA and, under the deal, it would assume full ownership. Upon completion of a potential transaction, Falabella would operate in Peru under a single real estate structure. The contemplated deal is aligned with the company's strategy for simpler and more efficient operations.