Larrain assists La Polar in acquisition of AD Retail
Larrain y Asociados has assisted Empresas La Polar in the acquisition of AD Retail (Abcdin) and the integration of its businesses.
The proposed integration was announced by both companies in April 2023. In May the Financial Market Commission (CMF) approved a US$40,000,000 capital increase by La Polar for the purpose of acquiring the shares of AD Retail. After an investigation process, on 28 December 2023, the National Economic Prosecutor’s Office (FNE) approved the integration unconditionally.
The transaction closed on 11 January 2024 and amounted to approximately USD $17,500,000. PPU Chile and Vial Larraín Femenías advised AD Retail.
The advice involved support during the due diligence process, negotiation of relevant contracts with AD Retail and creditors of both companies, capital increase of Empresas La Polar, obtaining authorisations of different nature, including the one received from the National Economic Prosecutor’s Office and structuring the integration of both companies and their subsidiaries.
Vial Larraín Femenías’ team was represented by partner Ignacio Larraín.
PPU’s team included partners Federico Grebe, Guillermo Infante and Guillermo Vial, as well as director Constanza Rodríguez, senior associate Josefina Joannon and associates Juan Pablo Zegers and Antonio Marinovic.
Larrain y Asociados’ team included partners Arturo Bulnes (pictured left), Andrés Silva (pictured centre) and Juan de Dios Ferrada (pictured right), and associates Andrés del Sante, Michelle Inzunza and Diego de la Barra.
