Carey
Isidora Goyenechea 2800, las Condes Piso 42 755-0647 Santiago, Chile
Tel:(+56 2)29282200, Fax:(+56 2)29282200, E-mail: carey@carey.cl
Latin Lawyer

Cencosud places 6% of its shares on the market

29 July, 2016 by Vincent Manancourt

The New York office of Milbank, Tweed, Hadley & McCloy LLP and Morales & Besa in Santiago have helped Chilean retailer Cencosud make a secondary offering of common shares and American depository shares (ADRs) collectively worth US$458 million.
Cencosud’s controlling shareholder, the Paulmann family, offered more than 170 million shares locally and in New York on 15 July. The offering, which represents 6 per cent of Cencosud’s stock, closed on 17 July.

JP Morgan Securities acted as bookrunner for the international offering with counsel from the New York and Washington, DC, offices of Shearman & Sterling LLP , while Carey in Santiago advised local placement agents JP Morgan Corredores de Bolsa and Credicorp Capital.

Milbank Tweed previously helped Cencosud issue equity in 2012.

 
Counsel to Latin Lawyer

Counsel to Cencosud and Paulmann family

In-house counsel – Carlos Mechetti and Sebastian Rivera

Milbank, Tweed, Hadley & McCloy LLP

Partners Andrew Walker and Marcelo Mottesi, and associates Sam Badawi, Kaveh Namazie, Elizabeth McNichol and associate Jules Mugema in New York

Morales & Besa

Partners Guillermo Morales and Francisca Pérez, and associates Josefa Rodriguez and Vicente Valdes in Santiago

Counsel to bookrunners and placement agents

Shearman & Sterling LLP

Partners Stuart Fleischmann and Russell Sacks, counsels Jennifer Morton and Grissel Mercado, associates Erica Kassman and Jenny Ding, and international associate Lili Abascal in New York, and associates Jeffrey Tate and Michael Daly in Washington, DC

Carey

Partners Diego Peralta and Cristian Eyzaguirre and associates Sergio Mesías, Tomas Varela, Paluska Solar, Carla Karzulovic, Elvira Vial and Agustín Lira in Santiago