H&Cía represents Romero in Terpel acquisition
Hernández & Cía has represented in Peru the energy subsidiaries of Grupo Romero-Corporación Primax and Coesti in Peru, together with Primax Comercial del Ecuador Sociedad Anónima, in the signing of an agreement with the Copec group entities – Terpel Perú and Terpel Comercial del Perú in Peru and Organización Terpel and Inversiones Organización Terpel Chile Limitada in Ecuador, to acquire 100% of the operation of liquid fuels and NGV stations in Peru and refuelling stations in Ecuador.
The transaction, signed on 20 June and pending closing, is valued at USD $64 million, and involves the purchase of assets in Peru and the purchase of 100% of the shares of Terpel-Comercial Ecuador Cía Ltda in Ecuador.
Once the conditions precedent for closing are met, which include obtaining the relevant approvals from the competition authorities in Peru and Ecuador, this transaction will allow Grupo Romero to strengthen and expand its presence in the region, increasing its offer in service stations and in the fuels business. On the other hand, Terpel opted to divest these businesses to focus on other markets where it operates, and will continue with its lubricant marketing operations in Ecuador and Peru, and aviation fuel marketing and fuel wholesaling in Peru.
Other participating firms were Bustamante Fabara as Ecuadorian advisor to Primax, Payet Rey Cauvi Pérez as Peruvian advisor to Terpel, and Corral Rosales as Ecuadorian advisor to Terpel.
Rafael Villarán and Camila Munive acted as in-house counsels to Grupo Romero Investment Office (GRIO).
H&Cía’s team was led by partners Juan Luis Hernández (pictured left), Sandro Cogorno (pictured centre) and Rodrigo Flores (pictured right), with support from principal associate Gloria Zubizarreta, senior associate Luciano Rebagliati, and associates Rafaela Chumpitazi and Carlos Vidal.
Bustamante Fabara’s team consisted of partner José Rafael Bustamante C., director Kirina González and senior associate Valentina Morillo.
Payet Rey Cauvi Pérez Abogados’ team included partner Juan Antonio Egüez and senior expert Rafael Ortiz.
Corral Rosales team was represented by partner Santiago Palacios.
