SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
ASARCO Incorporated
-------------------------
(Name of Issuer)
Common Stock, without par value
-------------------------------------
(Title of Class of Securities)
04341310
--------------
(CUSIP Number)
Daniel Tellechea Salido Nicolas Grabar
Grupo Minero Mexico, S.A. de C.V. Cleary, Gottlieb, Steen & Hamilton
Baja California 200 One Liberty Plaza
06760 Mexico City, Mexico New York, New York 10006
(52-5) 574-8483 (212) 225-2000
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 18, 1997
-------------------------------
(Date of Event Which Requires
Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G
to report the acquisition which is the subject of this Schedule 13D,
and is filing this Schedule because of Rule 13d-1(b)(3) or (4), check
the following box [ ].
Page 1 of 13
<PAGE>
SCHEDULE 13D
CUSIP NO. 04341310 Page 2 of 13
- -------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Grupo Mexico, S.A. de C.V.
- -------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [__]
(b) [__]
- -------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
- -------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [__]
- -------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Mexico
- -------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF None
SHARES ---------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 2,894,900
EACH ---------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON None
WITH ---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,894,900
- -------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
2,894,900
- -------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [__]
- -------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.17%
- -------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
<PAGE>
SCHEDULE 13D
CUSIP NO. 04341310 Page 3 of 13
- -------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Grupo Minero Mexico, S.A. de C.V.
- -------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [__]
(b) [__]
- -------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
- -------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [__]
- -------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Mexico
- -------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF None
SHARES ---------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 2,894,900
EACH ---------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON None
WITH ---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,894,900
- -------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,894,900
- -------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [__]
- -------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.17%
- -------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
<PAGE>
Item 1. Security and Issuer.
This Statement relates to the common stock, without
par value ("Common Stock"), of ASARCO Incorporated, a New Jersey
corporation (the "Issuer"). The Issuer has its principal
executive offices at 180 Maiden Lane, New York, New York 10038.
Item 2. Identity and Background.
This Statement is being filed by Grupo Minero Mexico, S.A.
de C.V. ("GMM") and Grupo Mexico, S.A. de C.V. ("GMEXICO"). GMM
and GMEXICO are referred to collectively herein as the "Reporting
Persons". The shares of Common Stock reported in this report were
purchased by GMM, and GMM transferred such shares to GMEXICO on
December 26, 1997.
GMM is a corporation under the laws of the United Mexican
States. Its principal business is to act as a holding company for
shares of other corporations engaged in the mining, processing
and sale of metals. Its principal executive offices are located
at Baja California 200, Colonia Roma Sur, 06760 Mexico City,
Mexico.
GMEXICO is a corporation under the laws of the United
Mexican States. GMEXICO owns 98.8% of the capital stock of GMM
and controls GMM. Its principal business is to act as a holding
company for the shares of other corporations engaged in (a) the
mining, processing and sale of metals and (b) the operation of
railways. The principal executive offices of GMEXICO are located
at Baja California 200, Colonia Roma Sur, 06760 Mexico City,
Mexico.
GMEXICO is controlled by Empresarios Industriales de
Mexico, S.A. de C.V. ("EIM"), a Mexican corporation. The principal
business of EIM is to act as a holding company for shares of
other corporations engaged in a variety of businesses including
mining, railways, construction, real estate and drilling. The
principal executive offices of EIM are located at Insurgentes Sur
No. 432 - 9 piso, Col. Roma Sur, 06760 - Mexico, D. F.
Annex I hereto sets forth the name, business address,
present principal occupation or employment and citizenship of
each director and executive officer of the Reporting Persons and
EIM. The information set forth in Annex I hereto is incorporated
herein by reference. No other person controls GMEXICO or GMM or
has beneficial ownership of the shares of Common Stock held by
GMM within the meaning of Rule 13d-3 under the Securities
Exchange Act of 1934, as amended.
None of the Reporting Persons, or to the best
knowledge of the Reporting Persons, any of the persons listed in
Annex I hereto, has during the last five years (i) been convicted
in a criminal proceeding (excluding traffic violations or similar
misdemeanors), or (ii) been a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction and as
a result of such proceeding was, or is, subject to a judgment,
decree or final order enjoining future violations of, or
prohibiting or mandating activities subject to federal or state
securities laws or finding any violation with respect to such
laws.
Page 4 of 13
<PAGE>
Item 3. Source and Amount of Funds or Other Consideration.
The shares of Common Stock were acquired for cash. The
source of such cash was working capital of GMM and GMEXICO.
Item 4. Purpose of Transaction.
The shares of Common Stock held by GMM were acquired
for the purpose of investment in the Issuer. The Reporting
Persons intend to continue to review their investment in the
Issuer and from time to time may determine to acquire additional
shares of Common Stock or to sell shares of Common Stock, in
either case on the open market or otherwise. Such determinations
will depend on various factors, including without limitation the
financial performance of the Issuer, the availability and price
of shares of Common Stock, other general economic, market and
investment conditions and options available to the Reporting
Persons.
Neither of the Reporting Persons has any plans or
proposals of the type referred to in clauses (a) through (j) of
Item 4 of Schedule 13D promulgated by the Securities and Exchange
Commission (the "Commission").
Item 5. Interest in Securities of the Issuer.
(a) To the best knowledge of the Reporting Persons, as
of October 31, 1997, there are 40,362,015 shares of Common Stock
outstanding (as reported in the Issuer's Quarterly Report for the
period ended September 30, 1997 filed on Form 10-Q with the
Commission on November 12, 1997). The 2,894,900 shares of Common
Stock beneficially owned by the Reporting Persons represent
approximately 7.17% of such number of shares of Common Stock.
(b) The Reporting Persons share the power to vote or
to direct the vote of, and to dispose or to direct the
disposition of, the Common Stock beneficially owned by them.
(c) Annex II hereto sets forth all transactions in shares
of the Common Stock effected during the past 60 days by the
Reporting Persons. In addition, GMM sold 2,894,900 shares of
Common Stock to GMEXICO on December 26, 1997.
(d) and (e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships
with Respect to Securities of the Issuer.
None.
Item 7. Material to be Filed as Exhibits.
A joint filing agreement between the Reporting Persons is
filed as Exhibit 1 hereto.
Page 5 of 13
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of its knowledge and
belief, each of the undersigned certifies that the information
set forth in the statement is true, complete and correct.
Dated: December 29, 1997
Grupo Minero Mexico, S.A. de C.V.
By: /s/ Hector Garcia de Quevedo
---------------------------------
Name: Hector Garcia de Quevedo
Title: Managing Director
Grupo Mexico, S.A. de C.V.
By: /s/ Hector Garcia de Quevedo
---------------------------------
Name: Hector Garcia de Quevedo
Title: Managing Director
Page 6 of 13
<PAGE>
ANNEX I
Identity and Background
The following table sets forth the names, addresses and
principal occupations of the executive officers and directors of
Grupo Minero Mexico, S.A. de C.V. ("GMM"), Grupo Mexico, S.A. de
C.V. ("GMEXICO") and Empresarios Industriales de Mexico, S.A. de
C.V. ("EIM"). Except as set forth below.
GRUPO MINERO MEXICO, S. A. DE C. V.
Name Principal Business Address Occupation
- ---- -------------------------- ----------
Juan I. Gallardo Thurlow Monte Caucaso No. 915 - Chairman of the
4 piso Board and CEO of
Col. Lomas de Chapultepec Grupo
11000 - Mexico, D. F. Embotelladoras
Unidas, S.A. de
C.V.
Carlos Giron Peltier Lamartine No. 730 Investor
Col. Del Bosque
11560 - Mexico, D. F.
Genaro Larrea Mota Baja California No. 200 - Managing Director
Velasco 4 piso GMEXICO
Col. Roma Sur
06760 - Mexico, D. F.
German Larrea Mota Baja California No. 200 - Chairman and
Velasco 6 piso CEO of GMM and
Col. Roma Sur GMEXICO
06760 - Mexico, D. F.
Prudencio Lopez Martinez Monte Caucaso No. 915 - Investor
601
Col. Lomas de Chapultepec
11000 - Mexico, D. F.
Juan Sanchez-Navarro Campos Eliseos No. 400 - Vice Chairman
Peon 19 piso of Grupo Modelo
Col. Lomas de Chapultepec
11000 - Mexico, D. F.
Agustin Santamarina V. Campos Eliseos No. 345 - Retired Senior
2 piso Partner and Of
Col. Chapultepec Polanco Counsel
11560 - Mexico, D. F. Santamarina y
Steta, S.C.
Page 7 of 13
<PAGE>
GRUPO MEXICO, S. A. DE C. V.
Name Principal Business Address Occupation
- ---- -------------------------- ----------
Hector Calva Ruiz Baja California No. 200 - Managing Director
6 piso GMEXICO
Col. Roma Sur
06760 - Mexico, D. F.
Alfredo Casar Perez Insurgentes Sur No. 432 - Managing Director
9 piso GMEXICO
Col. Roma Sur
06760 - Mexico, D. F.
Juan I. Gallardo Thurlow Monte Caucaso No. 915 - Chairman of the
4 piso Board and CEO of
Col. Lomas de Chapultepec Grupo
11000 - Mexico, D. F. Embotelladoras
Unidas, S.A. de
C.V.
Hector Garcia de Quevedo Baja California No. 200 - Managing Director
4 piso GMEXICO
Col. Roma Sur
06760 - Mexico, D. F.
Xavier Garcia de Quevedo Baja California No. 200 - Managing Director
4 piso Grupo Ferroviario
Col. Roma Sur Mexicano
06760 - Mexico, D. F.
Carlos Giron Peltier Lamartine No. 730 Investor
Col. Del Bosque
11560 - Mexico, D. F.
Claudio X. Gonzalez Jose Luis Lagrange Chairman of the
No. 103 - 3er. piso Board and CEO of
Col. Los Morales Kimberly Clark de
11510 - Mexico, D. F. Mexico, S.A. de
C.V.
Oscar Gonzalez Rocha Insurgentes Sur No. 432 - Managing Director
2 piso GMEXICO
Col. Roma Sur
06760 - Mexico, D. F.
Genaro Larrea Mota Baja California No. 200 - Managing Director
Velasco 4 piso GMEXICO
Col. Roma Sur
06760 - Mexico, D. F.
Page 8 of 13
<PAGE>
Name Principal Business Address Occupation
- ---- -------------------------- ----------
German Larrea Mota Baja California No. 200 - Chairman and
Velasco 6 piso CEO of GMM
Col. Roma Sur and GMEXICO
06760 - Mexico, D. F.
Jorge Larrea Baja California No 200 - Retired investor
5 piso
Col. Roma Sur
06760 - Mexico, D. F.
Prudencio Lopez Martinez Monte Caucaso No. 915 - Investor
601
Col. Lomas de Chapultepec
11000 - Mexico, D. F.
Jose Mendoza Fernandez Moras No. 850 - 5 piso Businessman
Col. Del Valle Chairman of
03100 - Mexico, D. F. the Board and CEO
of Bufete Industrial
Romulo O'Farrill, Jr. Ave. San Jeronimo Businessman
No. 790 - A Chairman and
Col. San Jeronimo Lidice CEO of Novedades
10200 - Mexico, D. F. News
Juan Sanchez-Navarro Campos Eliseos No. 400 - Vice Chairman
Peon 19 piso of Grupo Modelo
Col. Lomas de Chapultepec
11000 - Mexico, D. F.
Agustin Santamarina V. Campos Eliseos No. 345 - Retired Senior
2 piso Partner and Of
Col. Chapultepec Polanco Counsel
11560 - Mexico, D. F. Santamarina y
Steta, S.C.
Daniel Tellechea Salido Baja California No. 200 - Managing Director
4 piso GMEXICO
Col. Roma Sur
06760 - Mexico, D. F.
Page 9 of 13
<PAGE>
EMPRESARIOS INDUSTRIALES DE MEXICO. S. A. DE C. V.
Name Principal Business Address Occupation
- ---- -------------------------- ----------
Alfredo Casar Perez Insurgentes Sur No. 432 - Managing Director
9 piso GMEXICO
Col. Roma Sur
06760 - Mexico, D. F.
Antonio Franck Cabrera Ave. Paseo de las Palmas Senior Partner
No. 405, Franck, Galicia,
3er. piso, Duclaud y Robles
Col. Lomas de Chapultepec,
11000 - Mexico, D. F.
Hector Garcia de Quevedo Baja California No. 200 - Managing Director
4 piso GMEXICO
Col. Roma Sur
06760 - Mexico, D. F.
Eduardo Gonzalez Gomez Insurgentes Sur No. 432 - C.P.A.
7 piso Independent
Col. Roma Sur Financial Advisor
06760 - Mexico, D. F.
Genaro Larrea Mota Baja California No. 200 - Managing Director
Velasco 4 piso GMEXICO
Col. Roma Sur
06760 - Mexico, D. F.
German Larrea Mota Baja California No. 200 - Chairman and
Velasco 6 piso CEO of GMM and
Col. Roma Sur GMEXICO
06760 - Mexico, D. F.
Jorge Larrea Baja California No. 200 - Retired investor
5 piso
Col. Roma Sur
06760 - Mexico, D. F.
Page 10 of 13
<PAGE>
ANNEX II
Transactions in Common Stock by the
Reporting Persons During the Last 60 Days
Reporting Number of Price per Method of
Person Date Shares Share Transaction
- ------ ---- ------ ----- -----------
GMM October 23 38,700 29.7164 Open Market
GMM October 24 30,000 29.9806 Open Market
GMM October 27 41,500 28.0905 Open Market
GMM October 28 105,000 26.1214 Open Market
GMM October 31 13,400 27.4641 Open Market
GMM November 3 26,200 27.4614 Open Market
GMM November 4 87,600 27.4064 Open Market
GMM November 5 40,500 27.5000 Open Market
GMM November 6 52,600 26.7546 Open Market
GMM November 7 50,000 25.9333 Open Market
GMM November 10 93,000 25.5862 Open Market
GMM November 11 29,700 25.8651 Open Market
GMM November 13 45,000 24.8194 Open Market
GMM November 19 41,200 25.4863 Open Market
GMM November 21 60,100 25.2049 Open Market
GMM November 25 148,700 25.3887 Open Market
GMM November 26 15,600 24.6250 Open Market
GMM December 3 52,300 24.4069 Open Market
GMM December 5 122,500 24.7242 Open Market
GMM December 8 32,000 25.0000 Open Market
GMM December 9 93,300 24.8397 Open Market
GMM December 10 64,000 24.5762 Open Market
GMM December 11 100,000 23.6250 Open Market
GMM December 15 225,100 23.2738 Open Market
GMM December 16 130,800 23.2500 Open Market
GMM December 18 320,000 22.4189 Open Market
GMM December 19 327,500 22.0749 Open Market
GMM December 22 126,600 21.8660 Open Market
GMM December 23 103,000 22.0390 Open Market
GMM December 24 57,500 22.5603 Open Market
GMM December 26 4,400 22.2500 Open Market
Page 11 of 13
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Index of Exhibits
-----------------
Exhibit No. Description Page
- ----------- ----------- ----
1 Joint Filing Agreement by and among 13
the Reporting Persons
Page 12 of 13
JOINT FILING AGREEMENT
THIS JOINT FILING AGREEMENT (this "Joint Filing Agreement")
is made and entered into as of this 29th day of December, 1997,
by and among Grupo Mexico, S.A. de C.V. and Grupo Minero Mexico,
S.A. de C.V.
The parties to this Agreement hereby agree to prepare
jointly and file timely (and otherwise to deliver as appropriate)
all filings on schedules 13D and 13G ("13D and 13G Filings")
required to be filed by them pursuant to sections 13(d) and 13(g)
under the Securities Exchange Act of 1934, as amended, with
respect to their respective ownership of shares of common stock
of ASARCO Incorporated and other securities representing, or
convertible into, such shares.
IN WITNESS WHEREOF, the parties hereto have executed this
Joint Filing Agreement as of the date first set forth above.
Dated: December 29, 1997
Grupo Minero Mexico, S.A. de C.V.
By: /s/ Hector Garcia de Quevedo
--------------------------------
Name: Hector Garcia de Quevedo
Title: Managing Director
Grupo Mexico, S.A. de C.V.
By: /s/ Hector Garcia de Quevedo
--------------------------------
Name: Hector Garcia de Quevedo
Title: Managing Director
Page 13 of 13
