Dentons advises IDB Invest on financing granted to On Vacation
Dentons Cárdenas & Cárdenas has advised the Inter-American Investment Corporation (IDB Invest) in the financing granted to On Vacation, a leading Colombian company in the Colombian hotel and tourism industry. Brigard Urrutia advised On Vacation.
The funds will be used to (i) strengthen its business model; (ii) expand its operations; (iii) promote a green and sustainable transition; and (iv) impact small businesses and communities in the regions where it currently operates.
In this sense, the resources emanating from the financing will allow On Vacation to strengthen sustainable initiatives such as, for example, the installation of renewable energy solutions in its hotels lIDB Iocated in the Amazon, Guajira, San Andrés and in the Tayrona National Natural Park, as well as to strengthen the local value chain in these areas.
Finally, the financing will be key to strengthen the Environmental, Social and Governance Policies outlined by On Vacation in execution of its strategic objectives, plans and goals.
BU’s team comprised partner Maria Fernanda Diago, associates Juan Sebastián Mejía González and Jordi Enrique Buitrago-Soetendal, and intern Sofía Cristina Solano Bilbao.
Dentons Cárdenas & Cárdenas team was formed by partners Bernardo Cárdenas (pictured left) and Daniela Mejía (pictured right), together with associates Alejandro Parra and Manuel Julián Gonzalez.
