Santiago, Chile, 2016-Jul-13 — /EPR Retail News/ — Cencosud S.A. (NYSE: CNCO, BCS: Cencosud) (“Cencosud” or the “Company”) announced today that it has filed a prospectus for a registered public secondary offering of 142,126,044 shares of its common stock, representing 5% of Cencosud total outstanding common stock, including in the form of American Depositary Shares (“ADSs”). The shares will be sold by Inversiones Tano Limitada (the “Selling Shareholder”) in the United States and elsewhere outside of Chile in the form of ADSs (the “International Offering”) and in Chile in the form of common stock (the “Chilean Offering” and, together with the International Offering, the “Global Offering”), subject to market and other conditions. J.P. Morgan Securities LLC and Credicorp Capital S.A. Corredores de Bolsa are acting as global coordinators in the Global Offering, with J.P. Morgan Securities LLC acting as sole book-running manager in the International Offering and Credicorp Capital S.A. Corredores de Bolsa, and J.P. Morgan Corredores de Bolsa SpA acting as Chilean placement agents in the Chilean Offering. The Selling Shareholder is controlled by the Paulmann Family, who will continue to be the controlling shareholders of Cencosud following the Global Offering.
Cencosud will not receive any of the proceeds from the sale by the Selling Shareholder of the shares of common stock in the Global Offering.
The Global Offering will be priced by means of the sale of the shares by the Selling Shareholder in one block through a book auction on the Santiago Stock Exchange in a process known as Subasta de Libro de Órdenes, in compliance with Chilean law and the rules of the Santiago Stock Exchange. The price and allocations resulting from the auction are expected to be announced before trading of Cencosud shares and ADSs commences in Santiago and New York, respectively, on or around July 15, 2016.
The shares of common stock are being offered pursuant to an effective registration statement that was filed with the U.S. Securities and Exchange Commission on July 11, 2016. Any offer, solicitation or sale will be made only by means of the prospectus included in that registration statement. Before you invest, you should read the prospectus in that registration statement and other documents the Company has filed with the SEC for more complete information about the Company and this offering. You may get these documents by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the Company or any dealer participating in the offering will arrange to send you the accompanying prospectus supplement if you request it by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Phone: 631-254-1735.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
S.A. Cencosud is a leading multi-brand retailer in South America, headquartered in Chile and with operations in Chile, Brazil, Argentina, Peru and Colombia. The Company operates in supermarkets, home improvement stores, shopping centers and department stores. In 2012, the company listed American Depositary Receipts on the New York Stock Exchange.
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