During this year, we announced the intention to enter into a partnership with Ripley Corp S.A. and to purchase Suburbia, both unique opportunities that fit squarely into the strategy we have established and carried out in a disciplined manner, consisting of focusing the actions on the client, growing in businesses with which we are familiar, and generating value for our investors.
Ripley Corp S.A. represents a partnership that generates added value. Its lines of business are parallel to those of Liverpool, with 70 department stores, 13 shopping malls, and consumer credit options in Chile and Peru. At year-end, a request had been made to the Chilean Bank and Financial Institutions Superintendence, for its approval to carry out this operation.
The acquisition of Suburbia represents the acceleration of our strategy to have a different operation focused on a different market. This chain occupies a leading position in a segment that is expanding due to the solidity of its brand, its extensive geographical presence through 122 stores situated throughout Mexico, as well as a portfolio of recognized private label brands. The stores, purchases, commercial planning, product design, marketing and supply chain operating divisions, along with its distribution center, will be incorporated as part of this transaction. We have submitted the corresponding formal request for approval to the Federal Economic Competition Commission in Mexico.