DLA Piper instructed on fuel retailer joint venture in the Dominican Republic
The London, Miami and Paris offices of DLA Piper advised Putney Capital Management in the sale of a 70% stake in a fuel retailer in the Dominican Republic to Total, the energy multinational.
The deal, of undisclosed value, includes a network of 130 stations, along with oil products and lubricants sales positions in the country. The Dominican Republic company will be rebranded as Total Dominicana and will be managed as part of Total’s network of 600 service stations in nine Caribbean countries.
Putney Capital Management, an asset management company, will retain a 30% stake and will continue to play a role in the resulting joint venture.
The DLA Piper team advising the sellers was led by Miami-based partner Francisco Cerezo, the US Head of Latin America Corporate at the firm. The team also included partners John L. Murphy in Miami, Robert Salter in London and Karine Disdier-Mikus and Stephane Lemarchand in Paris. Putney Capital Management also instructed OMG as local counsel in the Dominican Republic
Jones Day teamed up with Jimenez Cruz Peña as Dominican Republic counsel to advise Total.