Cuatrecasas assists Gasco and Copec in the sale of Gasmar in Chile

Cuatrecasas has advised Gasco and Copec on the sale of their subsidiary Gasmar to Arroyo Energy

 Cuatrecasas’ team in Chile has assisted the companies Gasco and Copec, through its subsidiary Abastible, in the sale of its entire shareholding in its subsidiary Gasmar S.A. to Arroyo Energy Investment Partners’ investment vehicle, Arco 4 SpA.

This transaction had a value of 422.5 million USD dollars, where its closing is subject to the corresponding approvals by the National Economic Prosecutor’s Office (FNE), which it is estimated could happen within this year.

This divestment takes place within the term established by the highest court, required by the Chilean Supreme Court because they are the main competitors in the business of liquefied gas distribution in Chile. Thanks to this transaction, led by Banco Santander, Gasco has reported a profit of 177 million dollars and Abastible 97 million dollars.

Cuatrecasas’ team was led by partners Roberto Guerrero V. (pictured left) and Tomás Kubick (pictured right), with the support of associates Magdalena Urquidi and Pilar Illanes. Meanwhile, Arroyo Energy was advised by BTG Pactual.