Davis Polk advised J.P. Morgan Securities LLC, as sole global coordinator and joint bookrunner, and Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and Goldman, Sachs & Co., as joint bookrunners (together, the international underwriters), in connection with the SEC-registered offering of 4,290,921 American Depositary Shares, representing 8,581,842 common shares of Compañía Cervecerías Unidas S.A. (CCU). The gross proceeds from the offering were approximately $112 million. CCU’s ADSs are traded on the New York Stock Exchange under the symbol “CCU” and its common shares are traded on the Santiago Stock Exchange, the Chilean Electronic Stock Exchange and the Valparaiso Stock Exchange also under the symbol “CCU.” The offering is part of a capital raise that includes a local portion in Chile, as well as an ongoing rights offering component both inside of Chile and outside of Chile in the form of ADS rights. 

Based in Santiago, Chile, CCU is a diversified Chilean company engaged through its subsidiaries in the beverages and confectionary businesses, operating in Chile, Argentina and Uruguay. 

The Davis Polk corporate team included partner Maurice Blanco, associate Damien G. Scott and law clerk Hugo Hernandez-Mancha. The tax team included partners Harry Ballan and Michael Farber and law clerk Thomas D. Phelan. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the New York and São Paulo offices.