Martínez counsels Patria on share acquisition with El Cóndor
Martínez Quintero Mendoza González Laguado & De La Rosa has counselled Patria Investments Limited on the transaction involving the signing of the share purchase agreement with Construcciones El Cóndor for the acquisition of a 48% stake in the Colombian company Concesión Pacífico Tres (Pacífico 3), a 4G infrastructure project awarded by the Agencia Nacional de Infraestructura (ANI) in 2014.
The acquisition of Pacífico 3, a concession formed by three construction companies – Construcciones El Cóndor, MHC Ingeniería y Construcción de Obras Civiles, and Constructora Meco – involves works along 146 kilometres across three departments: Caldas, Risaralda and Antioquia, impacting 19 municipalities.
Patria signed three share purchase agreements with the three current shareholders of Pacífico 3 to acquire 100% of the shares.
Pacífico 3 also aims to bring the Port of Buenaventura and the Caribbean closer to the productive centres of Antioquia and the Eje Cafetero, improving roads and connectivity.
The closing of the transaction, signed on 24 September, is subject to the fulfilment of conditions precedent, including regulatory and lender approvals, among others.
The transaction involved the jurisdictions of Spain and Uruguay. VM Legal acted as counsel to El Cóndor.
Gustavo Arboleda acted as in-house counsel to El Cóndor.
VM Legal’s team was represented by Beatriz Villegas.
Martínez’s team was led by partner Felipe Aristizabal (pictured), with the support of partner Olga Lucia Ramirez, senior associates María José Rocha, Fernando Arrunategui, Maria Alejandra Cabrera, associates Maria Sofia Negret, Andrés Alfaro, Juan José Rincón and Carlos Mario Torres.
