Chile banks regulator may decide on Liverpool, Ripley deal within weeks

Chile's banking regulator said on Thursday that it could decide within weeks on whether to give the green light to Mexican high-end department store chain Liverpool's planned acquisition of retailer Ripley RIP.SN.

Santiago-based Ripley has 69 stores in Chile and Peru, and units in retail, financial services and shopping malls, making approval from the local banking regulator a necessary step.

"If we have all the information we need to make a decision, that will be soon, we're talking a matter of weeks," head of Chile's banking authority Eric Parrado told journalists at a business event.

The companies have not yet formally requested approval from the banking regulator.

Liverpool on Tuesday said it had reached an agreement to acquire Ripley in a deal that values the target at 813 billion Chilean pesos (US$1.2 billion).