PPU counsels Patagonia Bio on the sale of 51% of its shares to Sicit

Philippi Prietocarrizosa Ferrero DU & Uría has counselled Patagonia Biotecnología, a company that manufactures fertilisers and soil fertilisers based on seaweed extracts with operations in Chile and Latin America, on the direct sale of 51% of the company’s shares to Sicit Group, a company in the animal-based biostimulants market for the agricultural world with global reach.

This transaction, closed on 19 May, involved the jurisdictions of Chile and Italy. Deloitte, both in Chile and in Italy (Milan office) acted as advisor to Sicit.

This is a very significant and innovative operation, not only because of the importance of the role of vegetables in the agricultural market, but also because of some interesting features, such as its focus on the sea and its sustainability and the contribution of these substances to the growth and development of plants, making them more resistant to the current adverse conditions (droughts or pests) that the agricultural market is facing on a daily basis.

PPU’s team was led by partners Federico Grebe (pictured left) and Guillermo Infante (pictured right), with the support of director Constanza Rodriguez, senior associates Josefina Joannon and Ariel Castillo, and associates Tomás Freire and Elena Urrejola.