Wal-Mart Announces Successful Completion of Tender Offer for Cifra, S.A. de C.V.
PR News Wire via Dow Jones
BENTONVILLE, Ark., Aug. 25 /PRNewswire/ -- Wal-Mart Stores, Inc. (NYSE: WMT)
announced that the offer to purchase (the "Offer") certain Series "A" Common
Shares and Series "B" Common Shares of Cifra, S.A. de C.V. ("Cifra"), made by
Banca Serfin, S.A., Institucion de Banca Multiple, Grupo Financiero Serfin,
Division Fiduciaria, in its capacity as trustee of Trust No. 145-4 of which by
Wal-Mart is the sole beneficiary (the "Purchaser") expired on August 22, 1997.
Pursuant to the Offer, the Purchaser is acquiring 593,100,000 shares of the
Series "A" Common Shares and Series "B" Common Shares of Cifra, including
302,500,000 Series "A" Common Shares and 290,600,000 Series "B" Common Shares
(the "Shares").
For the shareholders of Cifra who tendered Shares that are being purchased
pursuant to the Offer and elected to receive payment of the purchase price in
Mexican pesos, the purchase price per share in pesos was established as $15.89
pesos per share in accordance with the mechanics described in the Purchaser's
Offer to Purchase dated July 25, 1997. The purchase price being paid to those
electing to receive payment in United States dollars is $2.03. The proration
factor used to determine the number of Series "A" Common Shares purchased from
each tendering Cifra shareholder pursuant to the Offer was 35.55% and the
proration factor used to determine the number of Series "B" Common Shares being
purchased from the tendering shareholders was 88.81%.
The purchase price of the Shares will be paid by Goldman Sachs Mexico Casa de
Bolsa, S.A. de C.V. ("Goldman") to the brokerage houses, custodian banks or
institutions with deposits of Shares at S.D. Indeval, S.A. de C.V., Institucion
para el Deposito de Valores (each, a "Custodian") and from which Goldman had
received the tender of the Shares.
The purchase price will be paid in cash on September 8, 1997, the tenth
business day following the expiration of the Offer. The purchase price for the
Shares will be paid by Goldman to those shareholders receiving payment in pesos
through the account of the Sistema de Atencion a Cuentahabientes de Mexico
previously identified to Goldman by each Custodian and to those shareholders
receiving payment in United States dollars by electronic transfer to the
accounts located in the United States previously identified to Goldman by the
Custodians.
The Dealer Mangers for the Offer are:
Goldman Sachs Mexico Casa de Bolsa, S.A. de C.V.
Avenida de las Palmas 405, 18th Floor
Col. Lomas de Chapultepec,
11000, Mexico D.F.
Acciones y Valores de Mexico, S.A. de C.V.
Casa de Bolsa, Grupo Financiero Banamex Accival
Paseo de la Reforma 404, 11th Floor,
Col Juarez
06600, Mexico D.F.
/CONTACT: Jay Fitzsimmons, 501-273-6445, or Steve Hunter, 501-273-4148, both
of Wal-Mart Stores, Inc./
09:53 EDT |
