Cuatrecasas assists SKBergé in the acquisition of Hyundai Colombia assets

Cuatrecasas has counselled SKBergé S.A. on the purchase of vehicle distribution assets of the Hyundai Colombia brand

 Cuatrecasas, through its Bogotá office, has assisted SKBergé S.A. in the acquisition, through a JV, of certain assets related to the vehicle distribution business of the Hyundai brand in Colombia.

Thanks to this transaction, SKBergé S.A. becomes the new distributor of the brand in Colombia, Hyundai Colombia S.A.S., contributing to the Korean manufacturer’s strategy to further strengthen the brand in a territory where it has been working for almost 30 years. In addition, it assumes the contractual position with respect to the workers of the former distributor, Neohyundai of the Ecuadorian Eljuri Group, which entered the JV with a 25% stake, and acquires the inventory and several fixed assets, taking over in the country, betting on the growth and development of new generation vehicles.

With the closing of the deal, SKBergé S.A. adds the Hyundai brand to its existing portfolio, which includes other brands such as Volvo, Jeep, Dodge and Ram. As a result of the transaction, the group doubles its operations and greatly expands its workforce.

Cuatrecasas’ team was led by partner Alfonso Reina (pictured top left), with support from senior associates Carolina Trejos (pictured right) and Sebastián Salazar (pictured bottom left).