Davis Polk Advises S.A.C.I. Falabella on Its $550 Million Global Equity Offering

Davis Polk advised S.A.C.I. Falabella in connection with an offering by S.A.C.I. Falabella and Los Olivos Inversiones S.A., a controlling shareholder of S.A.C.I. Falabella, of 49,669,211 primary shares and 21,000,000 secondary shares of S.A.C.I. Falabella for an aggregate purchase price of approximately $550 million. The common shares are traded on the Santiago Stock Exchange. Common shares sold in the global offering were placed under Rule 4(a)(2) and in reliance on Regulation S outside of the United States.

Falabella is a publicly traded corporation incorporated in Chile and a multi-format retail company with operations in Chile, Peru, Colombia, Brazil, Argentina, Uruguay and Mexico, offering a range of highly diversified services, including department stores, home improvement stores, supermarkets, credit card services, real estate and other businesses.

The Davis Polk corporate team included partner Nicholas A. Kronfeld and associates Jennifer Ying Lan and Isabel Rivera. The tax team included partner Michael Farber and associates Dao Fu and Tomislava Dragicevic. Associate Sijia Cai provided Investment Company Act advice. All members of the Davis Polk team are based in the New York office.