Chile:
Cencosud Places 6% Of Its Shares On The Market
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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.
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