On May 1, 2025, coinciding with the commemoration of worker’s day, The Paulmann family made what is seen as the beginning of the succession process After the death of the patriarch, Horst Paulmann, on March 11.
Who became the third most important businessman in Chile according to the Forbes list, and 691 worldwide, left a business legacy and a style of doing business that was reflected in the Cencosud group, which departed in Chile and continued in Argentina, Peru, Colombia, Brazil and the United States.
He also bequeathed a fortune that must be distributed among his offspring.
The Cencosud Group is controlled by the Paulmann family, which owns 56.16%of the property through the PK One Society (52.145%) and directly Horst (2.5%) and their children (with shares that total 1.51%).
Currently, Cencosud (whose action accumulates a 45% rise so far this year) reaches US $ 9,366 million in the stock market, so the participation of the Paulmann corresponds to US $ 5,260 million.
In May 2023, the family moved control of the retail giant to the aforementioned PK One Society, constituted in the United Kingdom.
According to this operation, investments and services Rupel Limitada, a company that controlled Cencosud, transferred its more than 1,463 million shares to PK One Limited, which had as directors the founder of the group, Horst Paulmann, and their children Manfred, Peter and Heike.
He had, because this May 1, the company reported in the United Kingdom the term of the appointment of Horst as director of the Society, leaving only his three older children (to whom a quarter, minor).
Although the presentation was made on the first day of May, the document details that the termination date was the same day of the death of Horst Paulmann.
The family must now initiate the process of effective possession in a procedure before a civil court. After this, the judge will have to notify the notary where Paulmann’s will, and thus allow his reading.
The Paulmann family did not make comments for this article.
