MATERIAL FACT REPORT
Registration in the Securities Registry No. 743
Santiago, November 27th, 2020
Joaquín Cortez Huerta
Financial Market Commission
1449 Av. Libertador Bernardo O'Higgins
Ref.: Report of Material Fact.
By means hereof and in accordance with the unanimous resolution passed by Cencosud S.A.'s Board of Directors meeting held today, we hereby report as a material fact that it has been agreed to start the initial public offering process in Brazil, of a minority percentage of the Brazilian subsidiary of Cencosud S.A., which mainly operates different supermarket chains located in that country.
The resulting funds will be used to strengthen the organic growth and expansion of our supermarket operation in Brazil. It is preliminarily estimated that the company will be able to complete this operation between March and July 2021.
For this purpose, the company has defined Banco Itaú BBA S.A. in Brazil as the leading global bank for the operation. It will be supported by Bank of America and JP Morgan as Advisors and Coordinators of the process, and Banco Bradesco BBI of Brazil will be part of the bank syndicate.
Matías Videla Solá
Corporate General Manager
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Cencosud SA published this content on 27 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 November 2020 13:40:05 UTC