The firm advised Banco Pichincha C.A., in the structuring and negotiation of the acquisition of the assets and liabilities of GMAC del Ecuador S.A. The total value of this transaction was approximately at USD$ 38.5 million dollars. The closing date for this transaction was February 2011.
Banco Pichincha C.A., Diners Club del Ecuador Sociedad Financiera and Darío Fidel Egas Grijalva – Inversora Pichincha S.A., Compañía de Financiamiento Comercial and Interdinco S.A.
The firm advised Banco Pichincha C.A., Diners Club del Ecuador Sociedad Financiera and Fidel Dario Egas Grijalva in the structuring and negotiation of the acquisition of 99.98% of Inversora Pichincha S.A.’s outstanding stock and 100% of its bonds, as well as 100% of Interdinco’s outstanding stock.
The stockownership in Inversora Pichincha S.A., and Interdinco object of the negotiation, was sold in the year 2008 by Banco Pichincha C.A., Banco Pichincha Panamá and Diners Club del Ecuador Sociedad Financiera, to two branch companies of the American International Group Consumer Finance Group, transaction in which the firm advised the sellers. The closing date for this transaction was March 2010.
Valórem S.A. - Cine Colombia S.A.
We advised Valórem S.A. in the structuring and negotiation of the Agreement that allowed this company and its branch company PrimeValue Service S.A. to acquire indirectly 58.9% of Cine Colombia S.A., after cancelling its listing in Colombia's National Securities Registry and Stock Exchange. We also advised the said company in the formulation of a “delisting tender offer” (OPA de Desliste), transaction that allowed the acquisition of 39% of Cine Colombia's remaining outstanding stock. The total value of this operation, including the tender offer, was approximated at USD 150 million. The closing date for this transaction was December 2008. Valórem was also advised by other law firms.
Grupo Kaltex S.A. de C.V. – Coltejer S.A. – Organización Ardilla Lulle
Our firm was hired simultaneously by Coltejer S.A., a Colombian listed company with severe financial and labor difficulties, Organización Ardila Lulle (OAL), major shareholder in the latter and Grupo Kaltex from Mexico, in order to design and implement a legal structure that would save Coltejer S.A. from bankruptcy; such structure included, among other things, transferring all of OAL's shares in Coltejer and its position as internal creditor to Grupo Kaltex, as well as the capitalization of labor liabilities and correlated future contingencies. As such, an agreement in order to save the company was signed, enabling it to return to its original juridical and operational standards. In this transaction all parties had additional legal counsel.
Ashmore Energy International Ltd. – Corficolombiana (Promigas S.A. E.S.P.)
The firm counseled Ashmore Energy International in the negotiation with Corficolombiana in order to acquire 9.9% of Promigas, the largest gas carrier in Colombia, through a “martillo” auction process, which allowed Ashmore Energy International to secure its control over Promigas with a total of 52.9%. In addition of being legal counsels for the transaction, we advised Ashmore Energy International in the business strategy of the operation and the negotiation with Corficolombiana. This operation was held in 2006 for US$160 million dollars.
In 2005, our firm represented BBVA Colombia in the acquisition of 98.78% of Granahorrar’s outstanding shares for US$425 million dollars approximately, being at the time of the operation the highest amount paid for a financial entity in a privatization process in our country. In this transaction we worked along with the law firm Brigard & Urrutia. Additionally, we worked as exclusive advisors in the financial structuring of this process and the subsequent merger between BBVA Colombia and Granahorrar.
Almacenes Éxito S.A. / Gran Cadena de Almacenes Colombianos S.A. (Cadenalco)
The firm advised Almacenes Éxito in the take-over of Gran Cadena de Almacenes Colombianos (Cadenalco). This transaction was carried out by an Exchange Offer (OPI) in which there was a share exchange of Éxito for Cadenalco. This operation was held in 1999.
