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Cencosud SA
Cencosud SA
10/18/2012 | Press release
NOTICE OF ESSENTIAL EVENT
distributed by noodls on 10/19/2012 03:54
NOTICE OF ESSENTIAL EVENT
Santiago, Chile, October 18, 2012. - Cencosud S.A. ("Cenc
osud" or the "Company") filed an official notice of an
essential event, or "Hecho Esencial", with the Chilean
Superintendency of Securities and Insurance,
"Superintendencia de Valores y Seguros" ("SVS"), pursuant to
article 9 and second paragraph of article 10 of Act number
18.045 of the Republic of Chile, and Section II of the
General Rule No. 30 of the SVS, announcing the execution by
the Company of a stock purchase agreement with Carrefour
Nederlans B.V., a company organized under the laws of the
Kingdom of the Netherlands and an affiliate of Carrefour S.A
(the "Stock Purchase Agreement"), in respect of the purchase
of 100% of the capital stock of Colombia Holdings Alpha BV,
Colombia Holdings Thalie BV, Colombia Holdings Calliope BV,
Colombia Holdings Uranie BV, and Colombia Holdings Coledim
BV, each organized under the laws of the Kingdom of the
Netherlands, as well as the purchase of 100% of the capital
stock of Grandes Superficies de Colombia S.A. and Atacadao de
Colombia S.A.S., each organized under the laws of Colombia
(collectively, the "Acquired Companies"), for a total
purchase price equal to 2,000 million Euros subject to
adjustments pursuant to the Stock Purchase Agreement. The
Acquired Companies operate supermarkets under the Carrefour
brand name in Colombia.
The transfer of the capital stock of the Acquired Companies
is expected to close before December 31, 2012. The Company
has entered into a credit agreement with JP Morgan Chase Bank
in the amount of US$ 2,500 million to finance the purchase of
the Acquired Companies.
The acquisition of the Acquired Companies marks a strategic
entry by the Company into the supermarket segment in Colombia
and consolidates the existing presence of the Company's Easy
stores in Colombia.
Cencosud S.A., is a leading company in the Latin-American retail industry, with operations in Argentina, Brazil, Chile, Colombia y Peru. Cencosud currently operates 736 hypermarket and supermarkets, 82 home improvement stores, 26 shopping centers and 76 department stores, directly employing over 140,000 people.
