Luis Alberto Letelier and María Olga Rivera

B&E represents Ameris in Penta Vida stake acquisition

Barros & Errázuriz has represented Ameris Capital Administradora General de Fondos in the structuring of Ameris Alternativos II Fondo de Inversión and its acquisition of Penta Vida Compañía de Seguros de Vida’s holdings in 13 public investment funds managed by various general fund managers in Chile that serve as feeder funds for foreign funds.

The advice involved the preparation of the fund formation documents and the vehicles involved, the due diligence process of the acquired funds, the negotiation and execution of a sale and purchase agreement and regulatory advice to allow Ameris Alternativos II Fondo de Inversión to invest in public investment funds subject to CMF oversight.

The financing included the structuring of a syndicated loan and the granting of various guarantees in favour of the creditors, including a non-possessory pledge on money and on the investment fund shares that were acquired.

Penta Vida, Banco de Crédito e Inversiones (BCI) and Seguros Vida Security acted as creditors of the syndicated loan.

B&E’s team consisted of partners Luis Alberto Letelier Herrera (pictured left) and María Olga Rivera Ruz (pictured right), together with associates María Teresa Polgatti García, Andrés Vaccaro Carrasco and Colomba Melero Maira.

L Giselle Estrada