SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
April 14, 2005
Commission File Number 1-12752
Glassworks of Chile
(Translation of registrant's name into English)
Hendaya 60
Las Condes
Santiago, Chile
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(1): ______
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]
CRISTALCHILE LOGO
NYSE: CGW
Santiago: CRISTALES
www.cristalchile.com
CONTACT IN SANTIAGO:
Ricardo Dunner S.
Head of Investor Relations
PH: (562) 787-8855
FAX: (562) 787-8800
EMAIL: ir@cristalchile.cl
FOR IMMEDIATE RELEASE
Santiago, Chile (April 13, 2005) - Cristalerias de Chile S.A., a Chilean
conglomerate and the largest producer of glass containers in Chile, today
announced the following:
Negotiations to merge VTR Global Com S.A. ("VTR") and Metropolis Intercom S.A.
("MI" - in which Cristalchile had a 50% ownership) have concluded, and the
definitive contracts were signed today.
The transaction involved the subscription and payment by Cristalchile of a
capital increase in VTR equivalent to 20% of VTR's shares. This was paid by
Cristalchile with its shares of MI. Likewise, VTR acquired all but one of the
remaining shares of MI. In this way MI becomes a subsidiary of VTR.
In addition, Cristalchile entered into a shareholders agreement with the
current shareholders of VTR, regulating certain matters that refer to the
administration and financing of the company and relating to the transfer of
shares to third parties; establishing Initial Offering and Drag-Along
obligations and Tag-Along rights with respect to Cristalchile.
Finally, Cristalchile signed a contract with UnitedGlobalCom, Inc. (VTR's
parent company), which states that Cristalchile will have the right to sell it
its participation in VTR between the second and tenth year while the contract
is in effect, at market price, with a minimum of US$ 140 million. The
obligations of UnitedGlobalCom, Inc. have been guaranteed by the related
company Liberty Media International, Inc.
Additionally, the transaction involved VTR assuming a US$10 million debt that
MI had with a subsidiary of Cristalchile.
As a consequence of this transaction, Cristalchile will declare a profit of
approximately Ch$ 6,200 million in its financial statements.
* * *
This release may contain certain forward-looking statements (as that term is
used in U.S. securities laws) regarding anticipated results of operations,
financial condition, business operations or strategy of Cristalerias de Chile
or its consolidated subsidiaries. Forward-looking statements may be identified
by the use of words such as "anticipates," "believes," "expects," "predicts,"
"intends," "estimates," "should" or "may" or similar expressions relating to
statements that are not of historical facts. Such forward-looking statements
are believed to be reasonable, but are not guarantees of future performance.
Actual results could vary from our objectives or expectations due to many
factors including, among others, changes in consumer beverage preferences, new
technologies, a downturn in the Chilean wine industry, significant disruption
of the Chilean media market, the macroeconomic performance of Chile and the
behavior of Latin American markets more generally.
SIGNATURE
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.
GLASSWORKS OF CHILE
(Registrant)
By: /s/ Benito Bustamante C.
-----------------------------------
Benito Bustamante C.
Controller
Date: April 14, 2005