Cencosud completes sale of pharmacies in Peru to Mifarma chain

Santiago, February 10, 2016.- Cencosud announced today the sale of the 47 pharmacies operated by the group within Wong and Metro supermarkets in Peru to the Mifarma chain.

Mifarma, owned by the Quicorp group, with over 75 years of experience in the pharmaceutical sector in Latin America, operates in more than 6 countries including Peru, Ecuador, Bolivia, Colombia, Venezuela, and the Dominican Republic. Mifarma currently has nearly 600 stores throughout Peru.

This transaction is part of the asset and non-strategic business divestment plan announced by the Company with the aim of maintaining focus on core businesses and generating improvements in profitability.

Cencosud entered Peru in December 2007 through the acquisition of GSW S.A., the operator of Wong and Metro supermarket and hypermarket chains, as well as shopping centers in Peru. As of September 2015, Cencosud operated 89 supermarkets and hypermarkets, 9 department stores, and 4 shopping centers.