B&E counsels IG4 Capital on $57m acquisition of Adelco

Barros & Errázuriz and Carey have advised on the agreement between IG4 Capital and Inversiones Gibraltar on the acquisition of 50% of Adelco

 Barros & Errázuriz has counselled IG4 Capital on the deal with Inversiones Gibraltar SpA through which it acquired 50% of Abastecedora del Comercio (Adelco), a food distribution company owned by the Paulmann Mast family.

The transaction, which was signed and subject to the fulfilment of certain conditions precedent (CP’s), was valued at $57 million US dollars. Carey acted as advisor to Inversiones Gibraltar.

This acquisition will allow IG4 Capital to contribute to the restructuring and upgrading of Adelco’s business, which, with a 45-year history, is now the largest distributor of consumer products in Chile and also has a presence in Bolivia, Argentina and Peru. The parties also entered into a shareholders agreement to regulate Adelco’s corporate governance and some restrictions to the share transfer.

Carey’s team was led by managing partner Jaime Carey, with support from partners Jorge Ugarte and Manuel Alcalde, director Tax & Audit Alejandra Risso, and associates Pamela Morales, Gonzalo Lucero, Domingo Russi, Pablo Bauer and Nicole Magendzo.

B&E’s team was led by partner Sergio Eguiguren (pictured left), assisted by senior associates Fernanda Becker (pictured top right), María Teresa Diez (pictured middle right) and Carolina Carrillo (pictured bottom right), together with associates Francisca Ossa, Francisca Astudillo, Josefa Campero and Cristóbal Morandé Fontaine.