Chilean retailer Ripley Corp. S.A. (SNSE:RIPLEY) seeks to sell its shares in the company Nuevos Desarrollos S.A., which owns several shopping centres in the country. Ripley explains that it wishes to sell off its shares in Nuevos Desarrollos in order to invest in projects that are greater strategic value to Ripley Corp. and to reduce the debt of the company. Nuevos Desarrollos owns the following malls: Mall Plaza Alameda, Mall Plaza Sur, Mall Plaza Mirador Bío-Bío, Mall Las Américas, Mall Plaza Egaña, Mall Plaza Copiapó, Mall Plaza Los Domínicos and Mall Plaza Arica. Furthermore, Nuevos Desarrollos owns 50% of Grupo Marina, which owns the Marina Arauco, Mall de Curicó and Mall del Centro Concepción centres.