ESSENTIAL FACT
COMPANY CERVECERÍAS UNIDAS S.A.
REGISTRATION REGISTRY OF SECURITIES 0007
March 19, 2023
Mrs. Solange Berstein Jáuregui,
President of the Financial Market Commission,
Avenida Libertad Bernardo O’Higgins N° 1449, Santiago.
Present:
From our consideration:
In compliance with the provisions of Article 9 and second paragraph of Article 10 of Law No. 18,045 and Section II No. 1 literal 2.2.4 of General Standard No. 30 of the Commission for the Financial Market (the “CMF”), commissioned by the Board of Directors and being specially empowered to do so, I inform you of the following ESSENTIAL FACT regarding Compañía Cervecerías Unidas S.A. (“CCU”) and its business:
Given the announcement made on January 26, 2023 by the Office of Foreign Assets Control (“OFAC”) of the Department of the Treasury of the United States of America, to sanction the former President of Paraguay Mr. Horacio Cartes Jara (the “OFAC Sanction”), CCU is implementing measures to terminate its association with Mr. Cartes en Bebidas del Paraguay S.A. and Distribuidora del Paraguay S.A., companies in which CCU holds an indirect shareholding of 50.005% and 49.959% respectively (the “Companies in Paraguay”).
By virtue of the foregoing, on this date CCU subsidiaries signed a Private Agreement with the current shareholders of the Companies in Paraguay, Mr. Horacio Cartes Jara and Mr. Sarah Cartes Jara, by means of which it was agreed:
(i) the acquisition of all the shares held by Sarah Cartes Jara in the Companies in Paraguay;
(ii) the acquisition by an unrelated third party of Mr. Cartes of all of the shares he holds in the Companies in Paraguay, no later than March 17, 2023 and subject to CCU agreeing with this third party certain modifications to the shareholders’ agreements currently in force of the Companies in Paraguay; and
(iii) if the acquisition indicated in paragraph (ii) precedent, and without violating the OFAC Sanction, the acquisition by CCU of all the shares held by Mr. Cartes in the Companies in Paraguay.
The total price of the sales referred to in paragraphs (i) and (iii) above amounts to USD 36.6 million.
At this date it is not possible to estimate the financial effects that the Private Agreement may have on the assets, liabilities or results of CCU, which will be timely and duly reported to the CMF and the market in general.
Yours faithfully,
Company Cervecerías Unidas S.A.
C.C. Santiago Stock Exchange, Stock Exchange
Bolsa Electrónica de Chile, Chilean Stock Exchange
Bondholder Representative
Vitacura 2670/Las Condes
Santiago/Chile
Phone: (+56) 22 427 3000
www.ccu.cl
Link to file in CMFChile: https://www.cmfchile.cl/sitio/aplic/serdoc/ver_sgd.php?s567=b9a4694c3f328543cd90dfcb2a3aee8eVFdwQmVVMTZRWHBOUkVFMVRVUk5ORTlSUFQwPQ==&secuencia=-1&t=1682376108
