domingo, 21 de diciembre de 2008

Wal-Mart Announces Tender Offer for Ownership of D&S

Wal-Mart Stores, Inc. today announced it will launch a tender offer to acquire all of the issued and outstanding shares and American Depositary Shares of Distribucion y Servicio D&S S.A. (DYS).

The tender offer price is denominated at US$0.408 per common share. This offer price represents a premium of approximately 37.4 percent over the average closing price for the prior 30 trading days.

"Moving into Chile is an important step in implementing Wal-Mart International's strategy. We continue to focus on portfolio optimization, global leverage and winning in every market," said Michael T. Duke, vice chairman, Wal-Mart Stores, Inc. "A successful tender offer will give Wal-Mart the opportunity to be a significant participant in Chile, which continues to have a strong and growing economy among South America countries."

The tender offer is expected to commence Dec. 23, 2008 in the United States and Chile. Wal-Mart has set as a minimum condition of the tender offer, the acquisition of at least 50.01% of D&S's fully-diluted common shares. In order to demonstrate their support for the offer, the Ibanez family, the existing controlling stockholders of D&S, have agreed to tender a portion of their D&S shares. These controlling shareholders will enter into a long-term stockholders' agreement with Wal-Mart regarding D&S, which will continue to operate with its existing leadership, associates and brands.

According to Craig Herkert, President and CEO, the Americas, Wal-Mart International, "This investment demonstrates our deep respect for D&S, which has a long history of providing the best value to Chilean consumers. We share a laser focus on price leadership just as we do in Wal-Mart's 10 retail markets throughout the Americas. Both companies also have the same core values and business philosophies: respect for the individual, service to the customer and striving for excellence."

About Wal-Mart Stores, Inc.

Wal-Mart Stores, Inc. operates Wal-Mart discount stores, supercenters, Neighborhood Markets and Sam's Club locations in the United States. The Company operates in Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico and the United Kingdom and, through a partnership, in India. The Company's securities are listed on the New York Stock Exchange under the symbol WMT. More information about Wal-Mart can be found by visiting Online merchandise sales are available at and

About Distribucion y Servicio S.A.

D&S is a Chilean company whose stock is traded in the national and international Stock Exchanges. It is made up of a group of companies whose core business is food retail through different supermarket and hypermarket formats aimed at satisfying customers' diverse needs. It covers the whole country, from Arica to Punta Arenas.

Publication: PR Newswire
Provider: PR Newswire
December 20, 2008

sábado, 20 de diciembre de 2008

Eolic Partners Chile projects USD 175m wind park in Coquimbo

Chilean-based wind project developer Eolic Partners Chile SA projects to build a USD 175 million (EUR 125.8m) wind park located 265 km north of the capital city of Santiago.

The wind park is planned to have 38 wind turbines, each of 2 MW, according to the environmental impact declaration for the project, presented to the local authorities on Thursday.

The project, named Gorgonia wind park, will be built in the Punitaqui community in Chile's Coquimbo region and will be connected to the 220 kV line Los Vilos-Pan de Azucar of the central transmission grid SIC.

Eolic Partners Chile is participated by German capitals and is linked to the wind farm developers Eolic Partners of Spain and Ostwind and Aufwind of Germany.

Publication: ADP News
Provider: AII Data Processing Ltd.
December 22, 2008

jueves, 11 de diciembre de 2008

Moller & Perez Cotapos to build Clinica Bicentenario

As announced back in October 2008 by the specialist press, the firm Moller & Perez Cotapos has been awarded the contract at tender for the building of the Clinica Bicentenario at an investment cost of US$87mil. The clinic’s construction is a project put together by the Camara Chilena de la Construccion (CChC). It will consist of two buildings, an eight-floor clinic and a 20-storey tower-block for related activity, Fernando Leon, general director of the clinic. Building work should finish in 2010. Moller & Perez Cotapos is somewhat of a specialist in hospital construction: it is currently at work on the Arica hospital and participated in the remodelling of the Clinica Santa Maria.

Publication: SABI - Business News
Provider: South American Business Information
December 10, 2008

miércoles, 10 de diciembre de 2008

Golborne leaving Cencosud with his head held high

Laurence Golborne Riveros (aged 47) will leave his job as general director of Chilean retail giant Cencosud on January 31, 2009, after seven years and ten months at the helm. The group posted a turnover of US$1.5bil in the year 2000; it will close 2008 with sales of US$10bil. Poached away from Gener on the basis on his austerity, plain-thinking and creativity by Horst Paulmann, Golborne employed all sorts of financial artifices to finance the group's colossal expansion (flotations, capital increases, link-ups with investors, bond issues etc). The most impressive was a share exchange that allowed Cencosud to buy department-store chain Paris. The departing executive oversaw a frenzied seven-month period last year in which Cencosud entered nations three, four and five (after Chile and Argentina), namely Colombia, Brazil and Peru.

Publication: SABI - Business News
Provider: South American Business Information
December 10, 2008