AND EXCHANGE COMMISSION
OF FOREIGN ISSUER
TO RULE 13a-16 OR 15b-16 OF
SECURITIES EXCHANGE ACT OF 1934
the month of December, 2017
Inversiones y Representaciones Sociedad
(Exact name of Registrant as specified in its charter)
Investments and Representations Inc.
(Translation of registrant´s name into English)
(Jurisdiction of incorporation or organization)
(Address of principal
Form 20-F ⌧ Form
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
INVERSIONES Y REPRESENTACIONES SOCIEDAD
ON FORM 6-K
By letter dated December 1, 2017,
company informed that Dolphin Netherlands BV ("Dolphin"), a company in
which IRSA indirectly holds a 98.65% through Tyrus SA, has
executed a share purchase agreement
and option exercise, for all of the shares that Inversiones
Financieras del Sur SA ("IFISA") held of IDB Development
Corporation Ltd. ("IDBD"), which amounted to 31.7% of the capital
stock. In this way, Dolphin will control 100% of IDBD's
The transaction was made at a price of NIS 1,894 per share.
Simultaneously with this transaction, IFISA has canceled all the
liabilities it has with Dolphin, so the payment made by Dolphin
amounted to USD 33.7 million.
The proposal has been endorsed by the Committee of Independent
Directors for this transaction, which have hired the services of
Duff & Phelps, the leading company in the preparation of this
type of opinion ("fairness opinion") and the Audit Committee
who was consulted in the terms
of article 72 and the followings of the Capital Market Law No.
26,831, has no objections to make regarding the operation under comment. The
aforementioned statement is available for shareholders at the