Cencosud Shopping’s $1.03 Billion Initial Public Offering

Milbank LLP advised Cencosud Shopping S.A., as issuer, and Cencosud S.A., as selling shareholder, in Cencosud Shopping’s initial public offering of 472 million shares of common stock representing approximately 28% of the outstanding capital stock of Cencosud Shopping.

The transaction consisted of an international offering and a concurrent public offering in Chile. The transaction was the largest ever IPO in Chile to date, valued at $1.03 billion.

Cencosud Shopping Center SA offers retail services. The Company operates retail market, supermarkets, jumbo hypermarkets, departmental stores, family entertainment center, adventure center, and malls.

The Milbank deal team was led by partner Marcelo Mottesi (Picture), head of Milbank’s Global Capital Markets practice and co-head of the firm’s Latin America Group, along with special counsel Sam Badawi and associates Gonzalo Guitart, Flora Gonzalez and Sonia Lopez. The team also included Tax partner Andrew Walker and associate Benjamin Heller.

Involved fees earner: Sam Badawi – Milbank; Flora Gonzalez – Milbank; Gonzalo Guitart – Milbank; Benjamin Heller – Milbank; Sonia Lopez – Milbank; Marcelo Mottesi – Milbank; Andrew Walker – Milbank;

Law Firms: Milbank;

Clients: Cencosud Shopping S.A.;