Simpson Thacher advised BTG Pactual, LarrainVial Securities and Itau BBA USA Securities as international placement agents on the $200 million IPO by SMU.
SMU is Chile’s number 3 supermarket retailer, it operates in Chile and Peru. The company is controlled by businessman Alvaro Saieh and Latin America’s Southern Cross private equity fund.
The shares were registered and offered to the public in Chile and 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.
Partner Juan Francisco Méndez led the Simpson Thacher team advising the placement agents. The banks instructed Morales & Besa for Chilean counsel.
SMU retained Prieto & Cia in Chile and Dechert in the US.