Merger between La Polar and AD Retail

La Polar S.A. has merged with AD Retail S.A., the holding company of Abcdin stores, to leverage synergies in the retail business and to enhance the financial business. La Polar completed a capital increase through the issuance of 3,200 million shares and acquired AD Retail with the funds from the shares subscribed by AD Retail shareholders in the capital increase.

Founded in 1920, La Polar operates a chain of department stores within the retail and financial services segments. It is also engaged in providing financial services, including issuing and managing credit cards for financing at La Polar stores and related businesses, the intermediation of insurance policies and the insurance brokerage business. It has a network of 40 physical stores throughout Chile and an e-commerce channel.

AD Retail is a holding company founded in 1914, specializing in retail and financial services. In 1995, the partnership between the Yaconi–Santa Cruz families acquired ownership and management of DIN, becoming the largest chain of electronics, home appliances and furniture in the country. In 2005, it acquired the competing company ABC, merging both companies and becoming the Abcdin chain, one of the most significant chains in the national market. AD Retail has a network of 73 physical stores throughout Chile and an e-commerce channel.

Oaklins’ team in Chile acted as financial advisor to La Polar in the merger with AD Retail, the holding company of Abcdin stores.