Carey assists Newrest in acquisition of Compass Group
Carey has assisted Newrest Group Holding, a Spanish catering services company, in the Chilean aspects of the acquisition of Compass Group’s operations in Chile, Colombia and Mexico, including five Chilean subsidiaries, through a share purchase agreement subject to Delaware law.
The transaction involves a strong commitment by the Newrest company and the exit from Latin America of the British Compass Group.
This transaction, closed on 2 December, also involved the jurisdictions of France, Chile, Colombia and Mexico, in addition to the US (Delaware). Also advising Newrest were Frieh Brault & Associés, Galicia Abogados, Gómez Pinzón, and Greenberg Traurig; while Barros & Errázuriz, Brigard & Urrutia, Creel García-Cuéllar Aiza y Enríquez, and Simpson Thacher acted as advisors to Compass Group.
The advice included the legal due diligence of Compass Group’s operations in Chile, the negotiation of the transaction agreements and the notification of the transaction to the Fiscalía Nacional Económica (FNE). The firm assisted in the structuring of the investment in Chile, and the legal analysis and evaluation of the company’s operations in Chile, including, among others, corporate, administrative, contracts with numerous clients and suppliers and labour matters (the company has close to 6,000 workers in Chile).
Juie Lechat acted as in-house counsel to Newrest.
Simpson Thacher’s team included Grenfel Calheiros and Siddharth Fresa.
Barros & Errázuriz’s team comprised partner Pablo Guerrero, and lawyers Andrés Rodríguez, Francisco Bórquez, Mary Anne Hohmann, Daniela Tumani, Manuela Ulloa and Luis Bravo.
Carey’s team was led by partners Jorge Ugarte (pictured left) and José Pardo (pictured right), with support from associates Óscar Lizana, Felipe Hepner, Natalia Reinicke and María Eyzaguirre.
