According to the notice of commencement of the OPA, it will extend between the days March 29, 2023 and April 27, 2023“without prejudice to any extensions that may exist, and its result will be published in the newspapers La Nación and El Libero on the third day from the end of the term.”, the document states.
The objective of the OPA -adds the notice- is to acquire the 49’824,502 shares of Soprole Inversiones, representing 100% of its share capital.
The total amount of the offer is 539’641,179.347 Chilean pesos, in case the acquisition of 49’824,502 shares is finalized, that is, the total of SISA’s currently issued, subscribed and paid shares, based on a price of 10,830.8394 pesos. per SISA share sold in the offer.
“The Company will make available to the public at its offices a copy of the OPA prospectus referred to in article 203 of the Securities Market Law, which contains all the relevant information and details of the OPA.”, Soprole said in an Essential Fact sent to the Chilean Financial Market Commission.
The National Economic Prosecutor’s Office (FNE) of Chile approved at the end of last February the purchase of Soprole by the Peruvian group. The former owners, the New Zealand company Fonterra, thus got rid of the Chilean operation after more than 30 years in its power. However, one step was missing to complete the operation: the takeover bid that begins tomorrow.
It was May 18, 2022 when Gloria Foods – JORB S.A. y Fonterra Co-operative Group Limited signed a confidentiality agreement called ‘Project Scorpio Confidentiality Agreement‘. On November 17, the share sale agreementby virtue of which it was agreed that under certain conditions, a Public Acquisition Offer will be launched by the firm.
On March 24, Gloria Foods – JORB SA assigned its rights under the purchase agreement to Fonterra.
And tomorrow, the Chilean subsidiary of Gloria, Inversiones Gloria Chile SpA will finally launch the OPA through which it plans to acquire 100% of the shares of Soprole Inversiones: a total of 49’824,502 papers. In summary, they are all those in the hands of New Zealand Milk (Latam) Ltd, which in turn owns 99.98% of Inversiones Dairy Enterprises SA, and 0.02% of the titles of Inversiones Dairy Enterprises, currently owned by Fonterra ( International) Limited.
The offer has a term of 30 calendar days, expires on April 27.
