Barros & Errázuriz counsels BTG Pactual on the acquisition of 3 buildings

Barros & Errázuriz has assisted BTG Pactual Chile AGF in the purchase by shares of 3 buildings of SU KSA

 Barros & Errázuriz has counselled BTG Pactual Fondo Renta Residencial on the purchase of 3 buildings from the SU KSA group through the acquisition of all the shares of the respective owner companies and of the credits they held with their shareholders, in addition to the performance of a due diligence of the title deeds of the properties where the buildings are located, of the urban and regulatory aspects of the buildings, and a legal and tax due diligence of the owner companies.

The advisory services also included the negotiation and preparation of all documents relating to the acquisition of the companies and related party receivables, the entry of BTG as sole shareholder and the documents relating to the management of the buildings by the Su Ksa group, as well as the negotiation of the conditions for the increase in Su Ksa’s shareholding as a contributor to the fund, arising from the sale of the buildings in the manner described above, all in accordance with the Framework Agreement in force for these purposes between the buyer and the seller.

This deal was closed on 7 May, where the buildings had the following values: Independencia building, 136,665.77 UF; Alto Conde building, 118,021.49 UF; finally, Plaza Central building, 244,116.47 UF. Simonetti Abogados also participated in the transaction.

The buildings are located in the Independencia and Estación Central districts, respectively, and are intended for residential or multifamily rental.

B&E’s team was led by partner Patricio Solórzano (pictured left), assisted by partner Carola Trucco (pictured top right), senior associate Eduardo Tirado (pictured bottom right) and associates Catalina Berrios V, Matías Cunill, Paula Riquelme B and Juan Pablo Feliu P.