Carey counsels on Viajes Falabella sale to despegar.com
Chilean law firm Carey has advised Falabella Inversiones Financieras on its sale of Viajes Falabella, its travel services business, to Despegar.com in Chile, Colombia, Peru and Argentina.
The deal is valued at $27 million, and includes a long-term commercial alliance to continue the use of the brand Viajes Falabella and the promotion and incentive of Falabella’s financial products and loyalty program CMR Puntos to Despegar clients.
The closing of the transaction is subject to regulatory approvals in Colombia and other customary precedents.
The transaction involved the coordination of Falabella’s interests, as the brand title owner and developer of the business, with those of Despegar, which as an online platform that intends to develop in-store presence in Falabella’s branches.
A 10-year commercial alliance was also agreed to promote Falabella’s financial products.
Carey’s team counselling Falabella comprised partners Cristián Eyzaguirre and Francisco Guzmán, counsel Paulina Silva and associates Ignacio Alfaro, Javiera Sepúlveda, Carlos Benussi and Yoel Magendzo.
Despegar was advised by law firm Claro, with a team led by partner Matías de Marchena and counsel Patricio Smart and Paulina Bardón.
