Counsel to Edison Group in the acquisition of the controlling stake in Cartellone Energía y Concesiones S.A. and Consorcio Empresas Mendoza para Potrerillos S.A.
Edison Holding S.A. and Edison Energía S.A. (the “Edison Group”) have agreed to acquire the controlling stake in Cartellone Energía y Concesiones S.A. and Consorcio Empresas Mendoza para Potrerillos S.A. from BAF Latam Credit Fund B.V.
As a result of the transaction, the Edison Group also acquired stakes in Empresa de Distribución Eléctrica de Tucumán S.A., Empresa Jujeña de Energía S.A., and Líneas de Transmisión del Litoral S.A. This transaction aims to strengthen the group’s regional presence, optimize operational management, and ensure an efficient and sustainable power supply in key provinces such as Jujuy, Tucumán, and Mendoza.
Woden Holding S.A. (“Woden”), Inverlat S.A. (“Inverlat”), and Perseo Holding Group LTD (“Perseo”) established the Edison Group to carry out this transaction.
Woden is a company owned by the Neuss brothers, which partnered with Inverlat, a private investment firm led by partners Carlos Giovanelli, Damián Pozzoli, and Guillermo Stanley, and Perseo, a company headed by Rubén Cherñajovsky and Luis Galli.
Woden was advised by our Firm, through the team formed by Partners Federico Salim, Julián Razumny, and Nicolás Eliaschev, and Associates Paula Cerizola, Marcos Quiroga, Daiana Perrone, Paloma Ganuza, Sofía Elhorriburu, and Leila Zatjaichuk.
Legal Advice on the Mandatory Tender Offer of IEB Construcciones (formerly DYCASA)
We advised Inversora Mercedes S.A., in its capacity as the bidder (the “Bidder”), in connection with the Mandatory Public Tender Offer (“OPA”) that took place as a result of the acquisition of control of IEB Construcciones S.A. (formerly known as DYCASA S.A.) (the “Affected Company”).
On October 31, 2024, the Bidder acquired 15,367,532 Class A shares and 4,463,094 Class B shares, representing 66.10% of the share capital and 88.88% of the voting rights of the Affected Company, thereby gaining control of the company.
As a result, in accordance with the Argentine Capital Markets Law, on February 28 of this year, the Bidder launched an OPA directed at all holders of ordinary Class B shares of the Affected Company, at a price of ARS 473.6680 per share, resulting in the acquisition of a total of 768 shares.
The formal aspects of the OPA were approved by the CNV (Argentine Securities and Exchange Commission) through a Board resolution dated February 19, 2025.
Invertir en Bolsa S.A. and Macro Securities S.A.U. acted as OPA Agents.
Our Firm acted as legal advisor for the transaction through a team led by our partner Francisco Molina Portela, with the participation of associate Juan Cruz Carenzo.
Telecom Argentina becomes a shareholder of Open Pass
Legal counsel to Open Pass S.A. ("Open Pass") and its founding shareholders in the negotiation of a strategic agreement with Telecom Argentina S.A. ("Telecom") to promote Open Pass’ consolidation in the domestic Fintech market, expand its proposal of B2B financial technological solutions, and venture into new markets.
The transaction consisted in Telecom’s indirect acquisition of 50% of Open Pass’ shares through a share subscription and the reorganization of the company in preparation for its upcoming internationalization. In addition, as part of the transaction, Open Pass’ founding shareholders entered into a shareholders’ agreement with Telecom to regulate their rights and obligations. The transaction closed on April 24, 2023.
Open Pass is a technology company that offers Fintech As A Service infrastructure throughout Latin America. In turn, through its participation in Open Pass, Telecom aims to enhance the digital financial services offering of Personal Pay -Telecom's virtual wallet that uses Open Pass’ technology- both for individuals and companies.
Legal Counsel in the Sale of Grupo Alicorp's Argentinean Subsidiaries
We advised Alicorp S.A.A, a company that is part of Grupo Romero and is listed in Lima's Stock Exchange, in the sale of its Argentinean subsidiaries dedicated to the fabrication and commercialization of mass consumer products (personal care/homecare/foods).
The transaction involved the sale of 100% of its participation in four subsidiaries along with its entire operation in the country, including its three sites, brands and products.
Legal Counsel to Santista Têxtil Ltda. in the sale of a minority stake in Santista Argentina S.A.
We advised the Brazilian manufacturer Santista Têxtil Ltda. in the the sale of a minority stake in its local subsidiary, Santista Argentina S.A., to businessmen Carlos and José Muia. Transaction was closed on August 5, 2021.
Santista Têxtil Ltda. is a company that leads the Latin American market, owner of Santista Argentina S.A., with more than 95 years of presence in the country, developing two business units: Santista Jeanswear, leader in the production of differentiated denim and Kolor, and Santista Workwear, leader in the production and sale of fabrics for workwear with its OMBU/Grafa70 brands and its “Garantía Total” system.
Sancor Seguros´ acquisition of a 70% equity interst in Banco del Sol
Legal Counsel to Grupo Sancor Seguros, as buyer, in the acquisition of a 70% equity interest in Banco del Sol S.A., a bank licensed by the Argentine Central Bank.
Joint Venture for the operation of Village Cinemas S.A.
The firm advised Cinépolis, the fourth largest movie theaters chain in the world and the largest in Latin America and Mexico, in the joint venture, entered into with Cinema Georgia LLC. For the operation of the exhibition business of Village Cinemas S.A.
Acquisition of Equity Interest in Brisa de la Costa S.A.
The Firm advised Helios Partners S.A. in the acquisition from Envision Energy (Netherlands) B.V. of a 25% equity interest in Brisa de la Costa S.A. (a company that is developing a wind energy project in Bahía Blanca, Province of Buenos Aires, that resulted awarded in Round 1 of RenovAr).
Acquisition of Equity Interest in Brisa de la Costa S.A.
The firm advised Helios Partners S.A. in the acquisition from Envision Energy (Netherlands) B.V. of a 25% equity interest in Lomas de los Vientos S.A. (a company that is developing a wind energy project in Bahía Blanca, Province of Buenos Aires, that resulted awarded in Round 1 of RenovAr).
Acquisition of Equity Interest in Parques Eólicos Pampeanos S.A.
The firm advised Helios Partners S.A. in the acquisition from Envision Energy (Netherlands) B.V. of a 25% equity interest in Parques Eólicos Pampeanos S.A. (a company that is developing a wind energy project in Villarino, Province of Buenos Aires, that resulted awarded in Round 1 of RenovAr).