UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of December, 1999
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DESC, S.A. DE C.V.
(Translation of registrant's name into English)
PASEO DE LOS TAMARINDOS 400-B, BOSQUES DE LAS LOMAS, 05120 MEXICO, D.F., MEXICO
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F. Form 20-F [X] 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 [X]
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-___________.
NY2:\869389\01\$MTP01!.DOC\41150.0012
<PAGE>
SIGNATURES
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.
Desc, S.A. de C.V.
(Registrant)
Date: January 20, 2000 By /s/ Ernesto Vega Velasco
---------------- ----------------------------------
(Signature)*
Name: Ernesto Vega Velasco
Title: Chief Financial Officer
* Print the name and title under the signature of the signing officer.
2
<PAGE>
EXHIBIT INDEX
Sequential
Item Page Number
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1. Press Release announcing approval by Mexican
regulatory authorities of the sale of Registrant's poultry
and animal feed business to Bachoco .............................. 4
3
EXHIBIT 1
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[Desc Logo] FOR IMMEDIATE RELEASE
Contact: DESC
Arturo D'Acosta Ruiz
Mariana Alvarez Neder
011 525 261 8000
[email protected]
- or -
CITIGATE DEWE ROGERSON
Mikhal Stein
305 381 6500
[email protected]
DESC S.A. DE C.V. RECEIVES REGULATORY APPROVAL ON
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SALE OF POULTRY AND ANIMAL FEED BUSINESS
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MEXICO CITY, Mexico, December 20, 1999 -- DESC, S.A. de C.V. (NYSE:
DES; BMV: DESC) announced today that regulatory authorities in Mexico approved
DESC's sale of Grupo Campi S.A. de C.V., its poultry and animal feed business,
to Industrias Bachoco S.A. de C.V. (NYSE: IBA; BMV:BACHOCO UBL).
On November 5, DESC announced that it had reached an agreement with
Industrias Bachoco whereby the latter would purchase 100% of DESC's shares in
Grupo Campi. This agreement was subject to the approval of the Federal Antitrust
Commission, which already issued its official resolution in favor to the
transaction.
The total purchase price of Grupo Campi was US$155 million, including
approximately US$27 million in net debt. On Tuesday, December 21 DESC will
receive the proceeds from the sale, which will be mainly used to pay down debt.
With the close of this transaction DESC reinforces its strategy to
focus on branded products in its food sector, with a strong market share in
Mexico and the Southwestern United States.
DESC S.A. de C.V., headquartered in Mexico City, is one of the largest
industrial groups in Mexico. Through its wholly-owned subsidiaries, DESC is
engaged in the auto-parts, chemicals, food, consumer products and real estate
industries. More information about DESC S.A. de C.V. can be obtained via the
Internet at www.desc.com.mx.
DESC S.A. de C.V.
Paseo del los Tamarindos 400-B
Bosques de las Lomas
05120 Mexico D.F.
www.desc.com.mx
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