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.