Davis Polk advised J.P. Morgan Securities LLC, as sole global coordinator and dealer manager, and Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and Goldman, Sachs & Co., as dealer managers (together, the “Dealer Managers”), in connection with the SEC-registered portion of a rights offering of up to 28,416,203 new common shares of Compañía Cervecerías Unidas S.A. (CCU), including common shares represented by American Depositary Shares (ADSs). The gross proceeds from the offering were approximately $358 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 rights offering is part of a capital raise that includes a local rights portion in Chile, as well as a global share and ADS offering that closed on September 17. 

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.