PHR counsels on transfer of 100% of Orbis shares to Akzo Nobel
Posse Herrera Ruiz has advised on the acquisition by the Dutch company Akzo Nobel Coatings of 100% of the shares of Grupo Orbis
Posse Herrera Ruiz has counselled the shareholders of Grupo Orbis, in relation to the share purchase and sale agreement, through which 100% of the shares of Grupo Orbis were transferred in favour of the companies Akzo Nobel Coatings International, Akzo Nobel Colombia, AkzoNobel Holdings, Panter and ICI Omicron, being the first time in the history of the Colombian Stock Exchange that the total shares of a listed company are transferred directly, without the need for a Takeover Bid.
The transaction was closed on 21 April, announced on 29 June 2021, obtained authorisation from the Colombian Financial Superintendency, the P.A. Titan Trust, and was administered by BTG Pactual Sociedad Fiduciaria.
The transaction included the jurisdictions of Colombia, Curaçao, Aruba, Peru, Ecuador, Panama, Costa Rica, Nicaragua, El Salvador, Guatemala and Honduras. Other firms advising Grupo Orbis were Robalino Law, HBN Law & Tax and BLP Legal; while Akzo Nobel’s advisors were Corral Rosales and Baker & McKenzie.
Grupo Orbis S.A. is a Colombian company specialising in paints and chemicals with a presence in more than 10 countries in Central and South America and the Antilles.
PHR’s team was composed of partners José Alejandro Torres (pictured top left), Juan Guillermo Ruiz (pictured top right), Mariana Posse (pictured bottom left) and Natalia Escobar (pictured bottom right), together with lawyers Emilia Arango, Carlos Múnera, Felipe Pardo, Daniel Meza, David Ulloa.
Robalino Law’s team was led by partner Daniel Robalino, alongside lawyers Jorge Duque, Martin Pallares and Daniel Peré Vietri.
HBN Law & Tax was represented by attorney Lianne Pieters.
BLP Legal’s team included partners Ronald Lachner, Uri Weinstock and Adriana Castro, and lawyer Adriana Acuña.
Corral Rosales’ team was headed by partner Xavier Rosales.
Baker & McKenzie’s team consisted of partner Andrés Crump and lawyers Natalia Ponce de León, Juliana Gómez and María Paula Moya.
