Bruchou helps ECOGAS in IPO
Bruchou & Funes de Rioja has provided legal assistance in the Initial Public Offering (IPO) of ECOGAS Inversiones through the public offer of subscription of shares in kind and voluntary exchange addressed to (i) all shareholders holding Class “B” common shares of Distribuidora de Gas del Centro (DGCe),; and (ii) all shareholders holding Class “B” and “C” common shares of Distribuidora de Gas Cuyana (DGCu) to be exchanged for new Class D common shares of ECOGAS.
The transaction is the first IPO integrated in kind through the delivery in exchange of shares of two companies admitted to the public offering regime (DGCu and DGCe).
As a result of the Exchange Offer, ECOGAS (by adding its holdings of Class “A” and Class “B” shares of DGCu) will own 93.10% of the total capital stock of DGCu; while, by adding its holdings of Class ‘A’ and Class “B” shares of DGCe, it will own 81.64% of the total capital stock of DGCe.
Banco de Valores, Puente Hnos. and Balanz Capital Valores participated as Organizing Agents of the Exchange Offering. Caja de Valores acted as Exchange Agent.
Bruchou’s team was led by partner José María Bazán (pictured), with the support of associates Ramón Augusto Poliche, Sofía Maselli and Facundo Suarez Loñ, with the assistance of partner Florencia Angélico, associate Ezequiel Castello, and partner Pablo Martín Muir.
