Davis Polk advises Falabella on $550m global equity offering
US law firm Davis Polk & Wardwell advised Chilean retail group Falabella on its offering of 49,669,211 primary shares and 21,000,000 secondary shares for an aggregate purchase price of approximately $550 million.
The offering was made in connection with Los Olivos Inversiones, a controlling Falabella shareholder, and the shares are traded on the Santiago Stock Exchange.
Falabella, a publicly traded corporation incorporated in Chile, is 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 involved in the issuance are based in the firm’s New York City office.
