Coca-Cola de Chile S.A., Embonor Sociedad Anonima, Embotelladora Andina S.A. (SNSE:ANDINA-B) and Coca-Cola del Valle New Ventures S.A. completed the acquisition of Comercializadora Novaverde Ltda. from Inversiones Siemel S.A. and Piwonka family for CLP 46.1 million.
October 02, 2018
Share
Coca-Cola de Chile S.A., Embonor Sociedad Anonima, Embotelladora Andina S.A. (SNSE:ANDINA-B) and Coca-Cola del Valle New Ventures S.A. entered into a stock purchase agreement to acquire Comercializadora Novaverde Ltda. from Inversiones Siemel S.A. (SNSE:SIEMEL) and Piwonka family for CLP 47.9 million on January 5, 2018. The purchase price is CLP 47.852 million, less the value of financial debt of Comercializadora Novaverde at the time the transaction materializes. The purchase price may be modified based on purchase price adjustments set forth in the purchase agreement. The transaction does not include the acquisition of the avocado business line and General Mills products sales. Post acquisition, Coca-Cola del Valle New Ventures S.A. will own 2,999,994 shares, Coca-Cola de Chile S.A. will own 3 Shares, Coca-Cola Andina will own 2 shares, and Embonor S.A. will own 1 share in Comercializadora Novaverde acquired from Siemel that owns 66.67% and Piwonka family that owns 33.33% stake in Novaverde. The transaction will be financed with own funds of Coca-Cola Andina. The transaction is subject to certain conditions precedent, including but not limited to, the authorization of the transaction by the Chilean Antitrust Authorities. As of January 9, 2018, the conditions are expected to be met by October 15, 2018. The deal has been approved by the Chile's antitrust regulator FNE on July 4, 2018. The transaction is estimated to occur during the first semester of 2018. Matías Zegers, Felipe Bahamondez, Diego Peña, Jorge Timmermann and Paulina Farias of BAZ|DLA Piper acted as legal advisor for Coca Cola Company de Chile S.A., Embonor S.A. and Embotelladora Andina S.A. Juan Cristóbal Schmidht and Felipe Alvarez of Barros & Errázuriz Abogados acted as legal advisor for Embonor S.A. Juan Francisco Gutiérrez, Guillermo Infante, Ignacio Larraín, Diego Bunster and Sebastián Melero of Philippi Prietocarrizosa Ferrero DU & Uría acted as legal advisor for Embotelladora Andina S.A. Jorge Andueza and Juan Pablo Guzmán M. of Portaluppi, Guzmán y Bezanilla acted as legal advisor for Inversiones Siemel S.A.
Coca-Cola de Chile S.A., Embonor Sociedad Anonima, Embotelladora Andina S.A. (SNSE:ANDINA-B) and Coca-Cola del Valle New Ventures S.A. completed the acquisition of Comercializadora Novaverde Ltda. from Inversiones Siemel S.A. (SNSE:SIEMEL) and Piwonka family for CLP 46.1 million on October 3, 2018.
Inversiones Siemel SA is a Chile-based holding company engaged, through its subsidiaries, in the financial, real estate, agricultural and information technology (IT) sectors. Its investments comprise such activities as insurance, securities brokerage, grape growing and wine production, fruit processing, outsourcing and the provision of techonological solutions, among others. As of December 31, 2011, the Company owned such direct subsidiaries as Compania de Seguros de Vida Cruz del Sur SA, Sigma SA, Agricola Siemel Ltda, Valle Grande SA, Cruz del Sur Administradora General de Fondos SA, Administradora de Mutuos Hipotecarios Cruz del Sur SA and Cruz del Sur Capital SA, among others, and Inversiones Angelini y Compania Limitada was its majority shareholder with 62.53% of its interest.
Coca-Cola de Chile S.A., Embonor Sociedad Anonima, Embotelladora Andina S.A. (SNSE: ANDINA-B) and Coca-Cola del Valle New Ventures S.A. completed the acquisition of Comercializadora Novaverde Ltda. from Inversiones Siemel S.A. and Piwonka family for CLP 46.1 million.
INVERSIONES SIEMEL S.A. 
