Marval advises Cielos Patagónicos on stake sale

Argentinian law firm Marval, O’Farrell & Mairal has advised 180 shareholders of tourism operator Cielos Patagónicos on their divestiture of shares to local private equity firm Cóndor Trust.



Law firm Pérez Alati, Grondona, Benites & Arnsten acted as adviser to Cóndor Trust, which purchased approximately 80 per cent of the Class A voting stock and approximately 60% per cent of the Class B non-voting stock of Cielos Patagónicos, which offers tourist activities for outdoor enthusiasts in Argentina’s Patagonia.


Cielos Patagónicos was owned by several hundred individual shareholders, originally numbering more than 300, of which the majority, approximately 180, accepted the purchasers’ offer to buy their shares.

Considering the value of the shares paid at closing, Cielos Patagónicos is valued at approximately $17 million. 


Marval, O’Farrell & Mairal partner Roberto E. Silva and associates Francisco Abeal and Agustín López Roualdès advised Cielos Patagónicos.

Pérez Alati, Grondona, Benites & Arnsten partners Guillermo Quiñoa and Vanina Veiga, and associates Florencia María Piazzardi, María Lourdes Arias and Catalina Mones Ruiz led the team advising Cóndor Trust.