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Gloria is authorized by the Chilean regulator to carry out the purchase of Soprole

Gloria is authorized by the Chilean regulator to carry out the purchase of Soprole

The closing of the transaction is still subject to compliance with the usual conditions for this type of operation, among which are the launching, by Gloria, of a public offering of shares.

Gloria Foods from Peru received approval from the Chilean National Economic Prosecutor’s Office (FNE) to complete the purchase of the dairy company Soprole, an operation that involves the New Zealand cooperative Fonterra.

The international agency Bloomberg reported that the authorization from the Chilean regulator is given three months after confirming the purchase.

In an important fact sent this Wednesday to the Commission for the Financial Market (CMF), Soprole specified that the regulator of the neighboring southern country “resolved to purely and simply approve the transaction that was informed by an essential fact dated 17 November 2022”.

However, the closing of the transaction is still subject to compliance with the usual conditions for this type of operation, among which are the launching, by Gloria, of a public offering of the company’s shares that are not owned by of Fonterra.

According to the international portal, although the information has not been updated, as of November it was known that the purchase of shares in this transaction amounted to US$210 million, while other Fonterral divestment operations brought the total amount of the operation to a sum of close to US$ $641.3 million (591.07 billion Chilean pesos, approximately).

The business was created after, in September 2021, the New Zealand cooperative announced that it would part with the giant of the dairy industry in Chile, which would eventually be acquired by Gloria, which also has a presence in Bolivia, Colombia, Puerto Rico, Ecuador , Uruguay and Argentina.

Source: Larepublica

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