Carey assists Sinovac in several operations in Chile

Carey y Cía. has represented Sinovac Biotech in the creation of its Chilean subsidiary, the purchase of a property and the entry of seed capital funds into Chile

 Carey y Cía. has assisted Sinovac Biotech, a leading Chinese biopharmaceutical company and one of the largest manufacturers of COVID-19 vaccines in the world, in the installation and development of its operations in Chile.

This operation, closed on 12 November, included the constitution of a Chilean subsidiary, the purchase of a property to install a vaccine plant (fill & finish system) in Santiago, Chile, of more than 21,000 square metres, the entry into Chile of the initial capital funds, and advice on labour and immigration matters related to Chilean and foreign workers who will provide services to Sinovac Chile. Through its Chilean subsidiary, Sinovac intends to also cover the rest of the Latin American market.

This historic transaction marks the beginning of the return of vaccine production in Chile, setting a precedent for the country and the region, with a projected annual production capacity of 60 million vaccines.

Philippi Prietocarrizosa Ferrero DU & Uría (PPU) acted as real estate counsel to the seller through associate María Eugenia Badilla.

Ada Wang acted as in-house counsel to Sinovac.

Carey’s team comprised partners Pablo Iacobelli (pictured top left), Juan Pablo Stitchkin (pictured top right), Ignacio Gillmore (pictured bottom left), Francisca Corti (pictured bottom right) and José Tomás Hurley, together with associates Monserrat Nova, Julio Recordon, Tomás Varela, Valentina Kuscevic, Beatriz Holmgren, Pablo Albertz, Jaime Coutts and Nicolás Fontaine.