ACE
Cencosud
XX
ESSENTIAL FACT
CENCOSUD S.A.
Registration of Securities Registry No. 743
Santiago, May 05, 2022.
Mrs. Solange Berstein Jáuregui,
President
Financial Market Commission,
Avenida Libertador Bernardo O’Higgins N° 1449,
Santiago.
Ref.: Communicates essential fact.
From our consideration:
In compliance with the provisions of Article 9 and second paragraph of Article 10, both of Law No. 18,045 and General Standard No. 30 of the Superintendence of Securities and Insurance, today the Financial Market Commission, we inform you. with respect to the following Essential Fact relating to the company Cencosud S.A. (the “Company”):
As of today, the shareholders of Grupo Giga and Cencosud Brasil Comercial S.A. have entered into an agreement to carry out the transfer of 100% of the company GIGA BR DISTRIBUIDOR E ATACADISTA LTDA. (“GIGA”) and its parent company, AFN PARTICIPACOES LTDA. (AFN), Brazilian limited liability companies (the “Transaction”).
In consideration for the acquisition of GIGA and AFN, Cencosud will disburse in favor of the sellers an amount of approximately R$500,000,000 (five hundred million reais), which may be adjusted based on GIGA’s existing working capital at the date on which the Transaction becomes effective.
As usual in this type of agreement, the completion of the Transaction is subject to the fulfillment of certain conditions, including obtaining authorization from the Brazilian Economic Defense Administrative Council.
GIGA Atacado, operates in the State of Sao Paulo through 10 well-located stores and a Distribution Center. It has more than 1,300 employees, and its annual gross sales exceed R$1.5 billion.
By virtue of this acquisition, Cencosud, through this new subsidiary, will enter the Sao Paulo market with the Cash & Carry format, a state where Cencosud does not yet operate.
For all the above, it is expected that this acquisition will have a favorable result in the consolidated results of Cencosud, without being able to quantify it with precision at this date.
Yours sincerely yours,
Matías Videla Solá,
General Manager,
Cencosud S.A.
CC. Santiago Stock Exchange,
Electronic Bag,
Representative of the Bondholders.
Link to the file in CMFChile: https://www.cmfchile.cl/sitio/aplic/serdoc/ver_sgd.php?s567=c40f5b9bee6c94d69d9d1440147941c2VFdwQmVVMXFRVEZOUkVVelRucFZOVTlCUFQwPQ==&secuencia=-1&t=1682376108
