Simpson Thacher Represents Placement Agents in US$200 Million Initial Equity Offering by SMU of Chile
01.27.17
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Simpson Thacher represented BTG Pactual US Capital, LLC, LarrainVial Securities US, LLC and Itau BBA USA Securities, Inc, as international placement agents, in connection with the initial equity offering of SMU S.A. (“SMU”). The shares were (i) registered and offered to the public in Chile and (ii) offered to qualified institutional buyers in the United States in reliance on exemptions from the registration requirements of the Securities Act and to non-U.S. persons outside the United States in reliance on Regulation S. The transaction raised approximately US$200 million in proceeds for the company, to be used primarily for the repayment of debt and for general corporate purposes.
SMU is the largest Chilean food retailer, based on number of stores, and the third largest Chilean food retailer, based on revenue. The company operates its food retail business in Chile through four different formats: supermarkets, cash & carry stores, convenience stores and an online grocer.
The Simpson Thacher team for this transaction included Juan Francisco Méndez, Juan M. Naveira and International Associate Francisco Zappa (Capital Markets); and William Smolinsky (Tax).