Bachoco Announces Final Results of the Offering for its Shares
17 November 2022 - 9:15AM
Business Wire
Industrias Bachoco S.A.B. de C.V. ("Bachoco") (NYSE: IBA; BMV:
BACHOCO) announced that, after the completion of the acceptance and
settlement processes of the tender offer initiated by a vehicle in
which current shareholders of Bachoco participated, as offeror (the
“Offeror”), for up to all of the outstanding Series "B" shares of
Bachoco, including shares represented by American Depositary
Receipts (ADRs), owned by the public and not owned directly or
indirectly by the Offeror or its affiliates, corresponding to
approximately 27% of Bachoco's outstanding capital stock as of the
date of the offer, 86,589,532 shares representing Bachoco's capital
stock participated in the U.S. offer and the Mexico offer, and were
effectively accepted by the Offeror. As a result of the foregoing,
the Offeror, including affiliates and related parties, would
directly or indirectly own 87.7% of Bachoco's capital stock.
COMPANY DESCRIPTION. Industrias Bachoco is a leader in
the poultry industry in Mexico and one of the largest poultry
companies in the world. The Company was founded in 1952, and began
trading on the Mexican Stock Exchange and the New York Exchange in
1997. Corporate offices are located in Celaya, Mexico. Bachoco is
vertically integrated; its main business lines are: chicken, eggs,
balanced feed, pork, among other products. It has more than 1,000
facilities organized into 9 production complexes and 80
distribution centers in Mexico and a production complex in the
United States. It currently generates more than 29,000 direct jobs.
Bachoco has the following ratings: "AAA (MEX)", the highest
rating assigned by Fitch México, S.A. de C.V.; and "HR AAA",
which means that the Issuer or the Issue is of the highest credit
quality and was granted by HR Ratings de México, S.A. de C.V.
DISCLAIMER. The document contains information that could
be deemed forward-looking statements regarding expected future
events and results of the Company. The statements reflect
management's current beliefs based on currently available
information and are not guarantees of future performance and are
based on our estimates and assumptions that are subject to risks
and uncertainties, including those described in the Annual
Information form, which could cause actual results to differ
materially from the forward-looking statements contained herein.
These risks and uncertainties include risks associated with
ownership in the poultry industry, competition for investments in
the poultry industry, shareholder liability, government regulation,
and environmental matters. Accordingly, there can be no assurance
that actual results will be consistent with these forward-looking
statements. Except as required by applicable law, Industrias
Bachoco, S.A.B. de C.V. undertakes no obligation to publicly update
or revise any forward-looking statements.
This press release is not an offer to sell securities in the
United States, Mexico, or elsewhere. The securities may not be
offered or sold in the United States, Mexico, or any other
jurisdiction without registration or an exemption from
registration. Any public offering of securities in the United
States or Mexico must be made through the preparation of a
prospectus or prospectus.
HOLDERS OF THE COMPANY’S AMERICAN DEPOSITARY SHARES AND HOLDERS
OF THE COMPANY’S SHARES WHO ARE LOCATED IN THE UNITED STATES ARE
ADVISED TO READ THE COMPANY’S SOLICITATION/RECOMMENDATION
STATEMENT, AS THEY MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO
TIME, TO BE FILED WITH THE SEC REGARDING THE OFFER OF THE OFFEROR
TO ACQUIRE THE COMPANY’S SHARES AND AMERICAN DEPOSITARY SHARES WHEN
SUCH STATEMENT BECOMES AVAILABLE BECAUSE IT WILL CONTAIN IMPORTANT
INFORMATION.
HOLDERS OF THE COMPANY’S AMERICAN DEPOSITARY SHARES AND HOLDERS
OF THE COMPANY’S SHARES MAY OBTAIN FREE COPIES OF THE COMPANY’S
SOLICITATION/RECOMMENDATION STATEMENT (WHEN AVAILABLE) AND OTHER
DOCUMENTS FILED BY THE COMPANY REGARDING THE OFFEROR’S OFFER TO
ACQUIRE THE COMPANY’S SHARES AND AMERICAN DEPOSITARY SHARES AT THE
SEC’S WEBSITE AT WWW.SEC.GOV
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Investor Relations Area Phone:(461)6183555
Mail:inversionistas@bachoco.net
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