NEW YORK, June 29, 2012 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has been named as depositary bank by Cencosud for its American depositary receipt (ADR) program. Each Cencosud ADR represents three ordinary shares and trades on the New York Stock Exchange under the symbol "CNCO." Cencosud's ordinary shares trade on the Santiago Stock Exchange under the symbol "CENCOSUD."
Cencosud is a retail conglomerate in Latin America with operations in Argentina, Brazil, Chile and Peru. It uses a multi-format strategy and employs close to 100,000 people.
"Cencosud is the first listing out of Chile this year and a noteworthy transaction, given global market conditions," said Michael Cole-Fontayn, CEO of BNY Mellon's Depositary Receipts business. "Being appointed depositary for this milestone only reinforces our presence in Latin America, and we look forward to working closely with Cencosud to raise the company's visibility among investors."
BNY Mellon acts as depositary for more than 2,500 American and global depositary receipt programs, acting in partnership with leading companies from 65 countries. BNY Mellon is committed to helping securities issuers access the world's rapidly evolving financial markets and delivers a comprehensive suite of depositary receipt services. Learn more at www.bnymellon.com/dr.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $26.6 trillion in assets under custody and administration and $1.3 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.4 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Learn more at www.bnymellon.com or follow us on Twitter@BNYMellon.
This release is for informational purposes only. BNY Mellon provides no advice nor recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. Depositary Receipts: Not FDIC, State or Federal Agency Insured; May Lose Value; No Bank, State or Federal Agency Guarantee.
SOURCE BNY Mellon