Cariola Díez Pérez-Cotapos has advised a foreign multinational and multicultural joint venture on the acquisition of a 65% majority stake in Punto Ticket, one of the largest ticketing companies in the region, with operations in both Chile and Peru. The joint venture is formed by CTS Eventim (Germany) and Sony Music Entertainment, an international record label.
The significance of this transaction stems both from its complexity and the fact that it is a 50:50 joint venture between two leading multinationals in the music industry acquiring the largest player in the ticketing market. This transaction is the most relevant sale of the year in the live entertainment business in Latin America, and is considered by the specialised press in both Chile and Peru as the “exit of the year” in the private company sector.
The advisory services included the due diligence of the company’s situation, the negotiation of the share purchase agreement, the shareholders’ agreement and other ancillary agreements. The transaction was led by the corporate practice assisted by the Technology, Privacy and Media, Intellectual Property, Consumer Protection, Employment, Insurance and Tax practices.
Payet Rey Cauvi Pérez Abogados acted as Peruvian counsel to CTS Eventim and Sony, and Garrigues acted as counsel to the sellers in Chile and Peru.
Cariola’s team was led by partner Tomás Vidal (†), with support from partner Gonzalo Grez (pictured top left), assisted by partner Bárbara Zlatar (pictured bottom left), and associates José Tomás Espinosa (pictured top centre), Camila Rojas (pictured top right), Gabriel Pensa (pictured bottom centre) and María Paz De Carcer (pictured bottom right).