S.A.C.I. Falabella in $550 Million Global Equity Offering

October 23, 2018

Cleary Gottlieb represented the placement agents J.P. Morgan, BofA Merrill Lynch, Credicorp Capital, and Larrain Vial in the global equity offering of 70.67 million common shares by S.A.C.I. Falabella.

The transaction consisted of a primary offering of 49.67 newly issued common shares and a secondary offering of 21 million issued common shares of the company owned by Inversiones Los Olivos SA. The offering was conducted as a private placement under Rule 4(a)(2) of the Securities Act of 1933 and in reliance on Regulation S outside of the United States.

The transaction priced on October 18, 2018, and is scheduled to close on October 23, 2018.

S.A.C.I. Falabella is a leading multiformat retail company in Chile, with operations in Peru, Colombia, Argentina, Brazil, Uruguay, and Mexico. Its business is comprised of department stores, home improvement stores, supermarkets, credit card services, real estate, and other businesses. Through its complementary banking business segment, the company provides consumer financing, credit cards, savings and checking accounts, and mortgage loans.