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Horst Paulmann, Billionaire Who Built Retail Empire, Dies at 89

Paulmann founded Chile’s Cencosud SA, South America’s largest retailer by sales and shaped an empire that spans supermarkets, department stores, and shopping malls across Latin America. He passed away peacefully in his sleep on Tuesday in Germany.
Cencosud
Working well into his 80s, Paulmann managed every aspect of Cencosud’s expansion until 2021. (Shutterstock)

Horst Paulmann, the German-born billionaire who founded South America’s largest retailer by sales, Chile’s Cencosud SA, has died. He was 89.

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Further Reading

Retailer Cencosud Brazil Files for IPO, Eyes Expansion

One of the largest retailers in South America, Santiago-based Cencosud, has filed for an initial public offering (IPO) on the Brazilian stock exchange for its Brazilian operations, aiming to raise around 1.5 billion reais ($288 million).

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