Report of Foreign Issuer (6-k)
November 12 2019 - 7:53AM
Edgar (US Regulatory)
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 6-K
REPORT
OF FOREIGN ISSUER
PURSUANT
TO RULE 13a-16 OR 15b-16 OF
THE
SECURITIES EXCHANGE ACT OF 1934
For
the month of November, 2019
IRSA
Inversiones y Representaciones Sociedad
Anónima
(Exact name of
Registrant as specified in its charter)
IRSA
Investments and Representations Inc.
(Translation of
registrant´s name into English)
Republic
of Argentina
(Jurisdiction of
incorporation or organization)
Bolívar
108
(C1066AAB)
Buenos
Aires, Argentina
(Address
of principal executive offices)
Form 20-F ⌧ 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
⌧
IRSA
INVERSIONES Y REPRESENTACIONES SOCIEDAD
ANÓNIMA
(THE
“COMPANY”)
REPORT
ON FORM 6-K
Attached is the
English translation of the summary of the letter dated November 11,
2019, filed by the Company with the Bolsa de Comercio de Buenos Aires
and the Comisión Nacional de
Valores.
By
letter dated November 11, 2019, IRSA Inversiones y Representaciones
Sociedad Anónima ("IRSA" or the
"Company"), in relation to IDB Development Corporation Ltd.
("IDBD") stake in Clal Insurance Enterprise Holdings Ltd. ("Clal")
and to continue with the communication to the market made on May 2,
2019 regarding the sale of Clal, reports the following
information:
On that
date, IDBD had entered into an agreement with an unrelated buyer (a
company owned by Eyal Lapidot) through which it granted an option
to acquire Clal shares representing approximately 4.99% of its
issued capital (and not less than 3%), at a price of NIS 47.7 per
share. Subject to the exercise of the option by said buyer, the
price would be paid 10% in cash and the rest through a loan that
would be provided to the buyer by IDBD and / or by a related entity
and / or by a banking corporation and / or financial institution,
under the agreed conditions.
Yesterday,
IDBD announced that on November 7, 2019, the sale transaction has
been completed and the loan has been granted by a financial entity.
It should be clarified that the amount of 2,771,309 of Clal
Insurance Enterprises shares sold were subject of a swap
transaction in which the Company entered with a financing entity,
that ended upon the Company's notice to such financing
entity.
As of
today, as a result of this transaction, IDBD’s holding in Clal
Insurance Enterprises amounts to 15.3% of its share capital and the
company owns an additional 15.0 % through swaps
transactions.
SIGNATURES
Pursuant to the
requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized, in the city of
Buenos Aires, Argentina.
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IRSA
Inversiones y Representaciones Sociedad
Anónima
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By:
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/S/ Saúl
Zang
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Name: Saúl
Zang
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Title: Responsible
of relationship with the markets
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Dated: November 12,
2019
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