Chile Saieh group buying 20 pct of Ripley: media

　　Fri May 8, 2009 10:16am EDT

　　SANTIAGO, May 8 (Reuters) - Chilean business group Saieh has signed a deal to purchase 20 percent of local retailer Ripley Corp RIP.SN for $171 million, local media reported on Friday. The Saieh group, which has interests in supermarkets, shopping centers, banks and media, will pay for the stake held by Marcelo Calderon, who is a member of a group of investors who have a controlling stake in Ripley. "The purchase should be completed by November 30, 2009," the Saieh Group said in a statement published in Chilean newspapers. Ripley Corp operates in the Chilean and Peruvian retail markets, owns shopping centers and has a personal banking business. (Reporting by Antonio de la Jara. Writing by Alexia Vlahos, editing by Dave Zimmerman) also on reuters

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