CCU Compania Cervecerias Unidas SA

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 6-K

     Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934

COMPAÑÍA CERVECERÍAS UNIDAS S.A.
(Exact name of Registrant as specified in its charter)
UNITED BREWERIES COMPANY, INC.
(Translation of Registrant’s name into English)

Republic of Chile
(Jurisdiction of incorporation or organization)
Vitacura 2670, 23^rd floor, Santiago, Chile
(Address of principal executive offices)
 _________________________________________

Securities registered or to be registered pursuant to section 12(b) of the Act.

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F X Form 40-F ___

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ___ No X

 

MATERIAL EVENT

COMPAÑÍA CERVECERÍAS UNIDAS S.A.

SECURITIES’ REGISTRY No 0007

March 16, 2023

 

Ms.

Solange Berstein Jáuregui

Chairwoman of the Financial Market Commission

Avenida Libertad Bernardo O`Higgins N° 1449

Santiago

 

Dear Sirs,

 

Pursuant to the provisions of Article 9 and paragraph two of Article 10 of the Securities Market Law
No. 18,045, and section II N° 1, 2.2.A of General Rule No. 30 of the Financial Market Commission (the "CMF"), on behalf of the Board of Directors and being duly authorized thereto, I hereby inform you of the following update to the Material Event dated March 1, 2023 (the "Material Event") with respect to Compañía Cervecerías Unidas S.A. ("CCU") and its businesses:

 

As reported in the Material Event, given the announcement made on January 26, 2023 by the Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury, to sanction the former President of Paraguay Mr. Horacio Cartes Jara, CCU implemented measures to terminate its association with Mr. Cartes in Bebidas del Paraguay S.A. and Distribuidora del Paraguay S.A., companies in which CCU held an indirect interest of 50.005% and 49.959%, respectively (the "Companies in Paraguay").

 

Due to the above, on March 1, 2023, CCU, through subsidiaries, signed a Private Agreement with the then shareholders of the Companies in Paraguay, Mr. Horacio Cartes Jara and Mrs. Sarah Cartes Jara, whereby it was agreed, among others:

(i)

the acquisition of all the shares held by Ms. Sarah Cartes Jara in the Companies in Paraguay, purchase that was executed on March 1, 2023, for a total amount of USD 4,001,920, with CCU becoming the holder of 55.007% and 54.964% of Bebidas del Paraguay S.A. and Distribuidora del Paraguay S.A., respectively; and

(ii)

the acquisition, by a third party unrelated to Mr. Horacio Cartes, of all the shares held by him in the Companies in Paraguay, no later than March 17, 2023 and subject to CCU agreeing with this third party on certain amendments to the shareholders’ agreements currently in place of the Companies in Paraguay.

 

Therefore, and having fulfilled the conditions set forth in the aforementioned Private Agreement, on this date Sudameris Bank S.A.E.C.A. acquired all of Mr. Horacio Cartes Jara's shares in the Companies in Paraguay, signing with CCU the respective Shareholders' Agreements, which include corporate governance clauses and other usual clauses for this type of contract, and a Put and Call Option Agreement with respect to the Companies in Paraguay, options that may be exercised by the parties at the beginning of the year 2024.

 

Consequently, currently the only shareholders of the Companies in Paraguay are CCU, through its subsidiary CCU Inversiones II SpA, and Sudameris Bank S.A.E.A.C. The Companies in Paraguay are controlled by CCU.

 

 

Vitacura 2670/Las Condes

Santiago/Chile

Tel: (+56) 22 427 3000

www.ccu.cl

 

 

As of this date, it is not possible to estimate the financial effects that the agreements may have on CCU's assets, liabilities or financial results, which will be duly reported to the CMF and the market in general.

Sincerely,

 

 

 

 

 

 

Felipe Benavides Almarza

Legal Affairs Manager

Compañía Cervecerías Unidas S.A.

 

c.c. Bolsa de Comercio de Santiago, Bolsa de Valores

Bolsa Electrónica de Chile, Bolsa de Valores

Bondholder Representatives

 

 

 

Vitacura 2670/Las Condes

Santiago/Chile

Tel: (+56) 22 427 3000

www.ccu.cl

 

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Compañía Cervecerías Unidas S.A.
(United Breweries Company, Inc.)

	/s/ Felipe Dubernet
	Chief Financial Officer

 

Date: March 16, 2023

 

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