Carey assists MCP in controlling investment in Valle Nevado ski centre
Carey has assisted Mountain Capital Partners (MCP), an owner and manager of ski resorts in the southwestern United States, in its controlling investment in Valle Nevado, one of the largest ski centres in South America.
The acquisition, which closed on 28 March, was made in the context of Valle Nevado’s reorganisation plan, which involved navigating a number of challenges that arise in distressed M&A transactions.
The transaction required Valle Nevado’s various creditors to approve an amendment to the company’s judicial reorganisation plan to enable the acquisition to be completed, as well as certain corporate procedures, including the creation of two series of shares, a share exchange and a capital increase, all within a very tight timeframe. It was also necessary to negotiate and agree, in parallel, ancillary documents with the previous controlling shareholders of Valle Nevado, who will continue as minority shareholders and advisors.
This investment represents MCP’s first investment outside the United States.
Steve Bowers acted as counsel to MCP in the United States.
Carey’s team was led by partner Salvador Valdés (pictured), assisted by associates Jaime Coutts, Nicolás Fontaine, Florencia Aleuanlli and Tomás Iturriaga.
