The institution acquired the shares belonging to the Cartes Group in Bebidas del Paraguay, Distribuidora del Paraguay and Enex Paraguay, and signed new shareholder agreements with both of the companies linked to Quiñenco.
The transaction, which was carried out in accordance with the guidelines established by the US OFAC, ensures the operational continuity of companies that together have more than 1,350 workers and investment plans totaling close to US$ 135 million in Paraguay.
March 16, 2023– Through material information filed this afternoon with the Chilean Financial Market Commission (CMF), CCU and Invexans (Enex’s parent company), informed the market that Banco Sudameris acquired the shares of Bebidas del Paraguay S.A., Distribuidora del Paraguay S.A. and Enex Paraguay S.A.E. that belonged to the Cartes Group.
The transaction, which complies with the conditions of the agreements that both companies linked to Quiñenco reported on March 1, was carried out through an asset swap based on the guidelines and procedures established by the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury.
Both CCU and Enex also reported that they have signed new shareholder agreements with Banco Sudameris for their subsidiaries in Paraguay. In the case of CCU, the company will hold 55% of the shares of Bebidas del Paraguay and Distribuidora del Paraguay, the same interest that Enex reported having reached in Enex Paraguay, after acquiring an additional 5% of the shares today from Banco Sudameris for US$3.5 million. Sudameris, in turn, will retain 45% ownership of each of the companies.
Bebidas del Paraguay and Distribuidora del Paraguay commercialize the brands Heineken, Amstel, Sol, Sajonia, La Fuente, Puro Sol, Pulp and Watts in Paraguay. These companies currently have 500 employees, and plan to increase them to 580, while their investment is close to US$90 million, with plans to reach US$180 million.
Enex Paraguay, in turn, currently has more than 75 points of sale in that country, with over 850 workers across its network of service stations and convenience stores. The company plans to expand its workforce to 1,150 and increase its investment in Paraguay from US$142 million to US$187 million.
In addition to communicating the closing of the agreements, the parties highlighted the continuity in Paraguay of companies that contribute to the country’s development and that will henceforth be controlled by CCU and Enex. These controllers will contribute their know-how in the beverage and energy sectors, to which Banco Sudameris will bring its experience in international banking and its knowledge of the local Paraguayan market.
About Banco Sudameris
Sudameris belongs to the group Abbeyfield and Abbeyfield Financial Holdings (AFH), in which the Dutch development bank Nederlandse Financierings Maatschappij voor Ontwikkelingslanden N.V., owns a 15% stake since 2018. In recent years, Sudameris has played a leading role in the growth of the Paraguayan financial system, focusing mainly on the real sector, and today it is the leader in financing the country’s livestock, industrial, and service sectors. Banco Sudameris is in the process of a merger by absorption with Banco Regional, per an agreement from the end of 2022. The merger will convert Sudameris in the largest entity in Paraguay’s banking system. Sudameris’ consolidated assets plus Banco Regional reach USD 4.8 billion.