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Arca Continental to buy out Corporacion Lindley’s investment shares

DBR Staff Writer Published 01 March 2016

Arca Continental, Coca-Cola bottler in Latin America, is placing a buy order (open to the market) to acquire up to 17,669,873 Investment Shares issued by Corporacion Lindley.

The buy order indicates that the number of shares for the offer represents approximately 25% of CL's total Investment Shares, which will be available from February 26 to March 10.

AC will have the option to extend or cancel the buy order or extend the offering period at its discretion.

The buy order establishes a price of S/. 3.15 per share, equal to a 12.5% premium over the last price traded on the Lima Stock Exchange of S/. 2.80 per share, and equal to a 37% premium over the stock price the day of announcement of the transaction between AC and CL.

The offered price is equivalent to US$0.89 per share, at the average exchange rate published by Peru's Superintendencia de Banca, Seguros and AFP, on February 24, 2016. This price was approved at AC's shareholders' meeting, which took place on December 29, 2015.

The transaction will be carried out through the Lima Stock Exchange.

The payment will be made under the usual terms established by the exchange to liquidate cash transactions.


Source: Company Press Release