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Simpson Thacher represented the Ibáñez brothers, Nicolas and Felipe and related companies, in connection with the exercise of a put option and related negotiations for the sale of the family’s remaining  25.06% equity interest in Walmart Chile S.A., previously Distribucion y Servicio D&S, S.A. (“Walmart Chile”). Walmart Chile is a Chilean company traded on the Santiago stock exchange, engaged in the supermarket and hypermarket retail business in Chile.  In connection with the exercise of the put option, the controlling stockholder of Walmart Chile, Inversiones Australes Tres Limitada (“Inversiones Australes”), a subsidiary of Wal-Mart Stores, Inc., has agreed to acquire all of the issued and outstanding shares owned by the Ibáñez family in Walmart Chile. Inversiones Australes and Wal-Mart Stores, Inc. acquired control of Walmart Chile in 2009. Upon the consummation of such acquisition, which is expected to happen before February 28, 2014, Inversiones Australes has agreed to initiate a tender offer in the Santiago stock exchange for the acquisition of the remaining shares of Walmart Chile. The price will be US$0.9124 per share.   

The Simpson Thacher team for the transaction included Todd Crider, Borja Marcos and international associate Tomás Pérez Alati (M&A).