Cencosud announces IPO for its subsidiary in Brazil

Santiago, November 27th, 2020.- Cencosud announced today that the Board of Directors of Cencosud S.A. has approved the process of conducting an initial public offering (IPO) in Brazil for a minority stake in its Brazilian subsidiary, which operates various supermarket chains in the country.

The proceeds from the IPO will be used to strengthen the organic growth and expansion of our supermarket operations in Brazil. The completion of this operation is estimated to take place between March and July 2021.

For this purpose, the company has selected Banco Itaú BBA S.A. as the global lead bank for the operation, with Bank of America and JP Morgan serving as Advisors and Coordinators of the process. Banco Bradesco BBI from Brazil will also be part of the syndicate of banks.

For more details on the recent operations in Brazil, please refer to the investors' webpage.

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