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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(RULE 13d-101)
(AMENDMENT NO. 1)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(A) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(A)
GRUPO ELEKTRA, S.A. DE C.V.
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(Name of Issuer)
SERIES B SHARES WITHOUT PAR VALUE
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(Title of Class of Securities)
P3642B163
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(CUSIP Number)
Mr. Robert Deutschman
1299 Ocean Avenue
Suite 306
Santa Monica, CA 90401
(310) 393-6632
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
AUGUST 26, 1999
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(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 that is the subject of this Schedule 13D, and is filing this
schedule because of Sections 240.13d-1(e), 240.13d-l(f) or 240.13d-1(g), check
the following box. / /
NOTE: schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Section 240.13d-7 for other
parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 10 Pages)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
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CUSIP No. P3642B163 13D Page 2 of 10 Pages
--------- --- ----
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(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Cappello Investment Partners III, LLC
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(2) Check the Appropriate Box if a Member (a) /x/
of a Group* (b) / /
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(3) SEC Use Only
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(4) Source of Funds*
SC
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
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(6) Citizenship or Place of Organization
Delaware
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Number of Shares (7) Sole Voting Power
Beneficially Owned 310,031,601
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting Power
0
--------------------------------------------------
(9) Sole Dispositive Power
310,031,601
--------------------------------------------------
(10) Shared Dispositive Power
0
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
310,031,601
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* / /
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(13) Percent of Class Represented by Amount in Row (11)
16.0%
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(14) Type of Reporting Person*
CO
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*SEE INSTRUCTION BEFORE FILLING OUT!
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CUSIP No. P3642B163 13D Page 3 of 10 Pages
--------- --- ----
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(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Alexander L. Cappello
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(2) Check the Appropriate Box if a Member (a) /x/
of a Group* (b) / /
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(3) SEC Use Only
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(4) Source of Funds*
SC
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
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(6) Citizenship or Place of Organization
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Number of Shares (7) Sole Voting Power
Beneficially Owned 0
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting Power
310,031,601
--------------------------------------------------
(9) Sole Dispositive Power
0
--------------------------------------------------
(10) Shared Dispositive Power
310,031,601
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
310,031,601
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* / /
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
16.0%
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(14) Type of Reporting Person*
IN
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*SEE INSTRUCTION BEFORE FILLING OUT!
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<PAGE>
CUSIP No. P3642B163 13D Page 4 of 10 Pages
--------- --- ----
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(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Gerard Cappello
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(2) Check the Appropriate Box if a Member (a) /x/
of a Group* (b) / /
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(3) SEC Use Only
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(4) Source of Funds*
SC
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
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(6) Citizenship or Place of Organization
California
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Number of Shares (7) Sole Voting Power
Beneficially Owned 0
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting Power
310,031,601
--------------------------------------------------
(9) Sole Dispositive Power
0
--------------------------------------------------
(10) Shared Dispositive Power
310,031,601
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
310,031,601
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* / /
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
16.0%
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(14) Type of Reporting Person*
IN
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*SEE INSTRUCTION BEFORE FILLING OUT!
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<PAGE>
CUSIP No. P3642B163 13D Page 5 of 10 Pages
--------- --- ----
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Cappello Partners, LLC
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(2) Check the Appropriate Box if a Member (a) /x/
of a Group* (b) / /
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(3) SEC Use Only
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(4) Source of Funds*
SC
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
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(6) Citizenship or Place of Organization
Delaware
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Number of Shares (7) Sole Voting Power
Beneficially Owned 310,031,601
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting Power
0
--------------------------------------------------
(9) Sole Dispositive Power
310,031,601
--------------------------------------------------
(10) Shared Dispositive Power
0
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
310,031,601
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* / /
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
16.0%
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(14) Type of Reporting Person*
oo
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*SEE INSTRUCTION BEFORE FILLING OUT!
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<PAGE>
CUSIP No. P3642B163 13D Page 6 of 10 Pages
--------- --- ----
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(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Robert Deutschman
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(2) Check the Appropriate Box if a Member (a) /x/
of a Group* (b) / /
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(3) SEC Use Only
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(4) Source of Funds*
SC
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
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(6) Citizenship or Place of Organization
California
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Number of Shares (7) Sole Voting Power
Beneficially Owned 0
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting Power
310,031,601
--------------------------------------------------
(9) Sole Dispositive Power
0
--------------------------------------------------
(10) Shared Dispositive Power
310,031,601
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
310,031,601
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* / /
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
16.0%
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(14) Type of Reporting Person*
IN
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*SEE INSTRUCTION BEFORE FILLING OUT!
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ITEM 1. SECURITY AND ISSUER
This Statement relates to the Series B Common Stock, no par value ("Series B
Shares"), of Grupo Elektra, S.A. de C.V. (the "Issuer"). The address of the
principal executive office of the Issuer is Edificio Parque Cuiculico
(Esmeralda), Insurgentes Sur, No. 3579, Col. Tlalpan La Joya, 14000 Mexico, D.F.
ITEM 2. IDENTITY AND BACKGROUND
This Statement is filed on behalf of Cappello Investment Partners III, LLC, a
Delaware limited liability company ("Cappello") which is principally involved in
making investments. Cappello's principal business address is 1299 Ocean Avenue,
Suite 306, Santa Monica, California, 90401.
Cappello Partners, LLC ("Cappello Partners") is the sole member of Cappello.
Messrs. Alexander Cappello, Gerard Cappello and Robert Deutschman are the
members of Cappello Partners. Additionally, Messrs. Alexander Cappello, Gerard
Cappello and Robert Deutschman may be deemed to control Cappello.
The principal business address for each member is 1299 Ocean Avenue, Suite 306,
Santa Monica, CA 90401. Each member is a citizen of the United States of
America.
During the last five years, neither Cappello nor, to the best of its knowledge,
any of its members (i) has been convicted in a criminal proceeding (excluding
traffic violations or similar misdemeanors); or (ii) has been a party to a civil
proceeding of a judicial or administrative body of competent jurisdiction and as
a result of such proceedings 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.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
On August 26, 1999, Cappello entered into agreements with certain persons who
are expected to hold (i) Series B Shares (which are reported as being
beneficially owned by Cappello pursuant to this Schedule 13D), (ii) shares of
Series A common stock of the Issuer, no par value (representing 23.5% of all
outstanding Series A shares), (iii) shares of Series L common stock of the
Issuer, no par value (representing 1% of all outstanding Series L shares) and
(iv) certain distributions with respect to, and interests in entities
holding, such shares (collectively, the "Option Shares") which gave Cappello
the right to purchase such Option Shares and certain other equity of the
Issuer (the "Stock Option Agreements"), and simultaneously gave notice of its
intent to exercise such purchase rights. Cappello expects to assign to a
third party (the "New Purchaser") all of its rights under the Stock Option
Agreements, to sell the Option Shares to such New Purchaser or otherwise to
dispose of the Option Shares to such New Purchaser subject to the option
granted by the Stock Option Agreements. Pursuant to the Stock Option
Agreements the New Purchaser could be the Issuer, Mr. Ricardo Salinas Pliego,
another member of the Salinas family or an affiliate of such persons.
Cappello has entered into a Letter of Intent with the Issuer pursuant to
which Cappello is committed to work diligently and in good faith to complete
a transaction in which Cappello would
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(i) acquire the Option Shares and transfer them to the Issuer from time to
time, (ii) hold the Option Shares subject to transfer and voting restrictions
satisfactory to the Issuer, (iii) agree not to sell the Option Shares to an
entity that is characterized as a direct or indirect subsidiary of the Issuer
under Mexican law and (iv) comply with certain other conditions. Under the
Letter of Intent, Cappello may assign the Option Agreements to the Issuer if
such a transaction is not completed. Cappello and the Issuer entered into an
escrow agreement dated August 26, 1999 pursuant to which the Issuer deposited
$15,000,000 from which Cappello may withdraw to purchase Option Shares and
which is a sufficient amount for the first exercise pursuant to the Stock
Option Agreements.
ITEM 4. PURPOSE OF TRANSACTION
Cappello has made no proposals and has entered into no agreements which would be
related to or would result in any of the matters described in Items 4(a)-(j) of
Schedule 13D; however, Cappello makes no representation as to the intent of any
New Purchaser.
ITEM 5. INTEREST AND SECURITIES OF THE ISSUER
(A) As of the date of this Schedule 13D, Cappello beneficially owns
310,031,601 Series B Shares (approximately 16.0% of the outstanding
Series B Shares based on the Form 20-F filed by the Issuer on June 30,
1998) all of which Cappello has the right to acquire within 60 days
following the date hereof pursuant to the exercise of the option rights
under the Stock Option Agreements.
Cappello Partners is the sole member of Cappello.
Messrs. Alexander Cappello and Gerard Cappello and Robert Deutschman may
be deemed to beneficially own Series B Shares deemed to be owned by
Cappello (as set forth above).
(B) Cappello has sole power to vote and dispose of the Series B Shares upon
exercise of its option under the Stock Option Agreements but has entered
into a Letter of Intent with the Issuer dated August 26, 1999 by which
Cappello is committed to work diligently and in good faith to complete a
transaction pursuant to which the Issuer would have the right to impose
voting restrictions satisfactory to the Issuer.
Cappello Partners is the sole member of Cappello
Messrs. Alexander Cappello, Gerard Cappello and Robert Deutschman may be
deemed to beneficially own Series B Shares beneficially owned by Cappello
(as set forth above) and, due to their ability to direct the actions of
Cappello, may be deemed to have power to vote and dispose of the Series B
Shares when the power is gained by Cappello upon closing of the option.
(C) Except for the Stock Option Agreements and the notice described herein,
none of Cappello, and to the best of its knowledge, none of Cappello
Partners or its members has effected transactions involving the Series B
Shares during the last 60 days.
(D) None
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(E) Not applicable
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER
Cappello expects to assign to a New Purchaser all of its rights under the Stock
Option Agreements, sell the Option Shares to such New Purchaser or otherwise
dispose of the Option Shares to such New Purchaser subject to the option granted
by the Stock Option Agreements. Pursuant to the Stock Option Agreements the New
Purchaser could be the Issuer, Mr. Ricardo Salinas Pliego, another member of the
Salinas family or an affiliate of such persons. Cappello has entered into a
Letter of Intent with the Issuer pursuant to which Cappello is committed to work
diligently and in good faith to complete a transaction in which Cappello would
(i) acquire the Option Shares and transfer them to the Issuer from time to time,
(ii) hold the Option Shares subject to transfer and voting restrictions
satisfactory to the Issuer, (iii) agree not to sell the Option Shares to an
entity that is characterized as a direct or indirect subsidiary of the Issuer
under Mexican law and (iv) comply with certain other conditions. Under the
Letter of Intent, Cappello may assign the Option Agreements to the Issuer if
such a transaction is not completed. Cappello and the Issuer entered into an
escrow agreement dated August 26, 1999 pursuant to which the Issuer deposited
$15,000,000 from which Cappello may withdraw to purchase Option Shares and which
is a sufficient amount for the first exercise pursuant to the Stock Option
Agreements.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
The following is filed herewith as an Exhibit to this Amendment No. 1 to
Schedule 13D:
Exhibit 1 - A written agreement relating to the filing of the joint
acquisition statement as required by Rule 13d-1(k)(1) under the
Securities Act of 1934, as amended. (Filed with the original
filing.)
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SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief, the
undersigned certify that the information set forth in this Statement is true,
complete and correct.
Dated as of this 26 day of August, 1999.
CAPPELLO INVESTMENT PARTNERS III, LLC
Cappello Partners, LLC,
its sole member
By: /s/ Robert Deutschman
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Robert Deutschman,
its member
Cappello Partners, LLC,
By: /s/ Robert Deutschman
---------------------
Robert Deutschman,
its member
/s/ Robert Deutschman
---------------------
Robert Deutschman
/s/ Alexander Cappello
----------------------
Alexander Cappello
/s/ Gerard Cappello
-------------------
Gerard Cappello
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