PPU counsels SAM S.A. on approval of merger control transaction in Chile

PPU has advised Santander Asset Management S.A. on the approval by the National Economic Prosecutor’s Office of merger control transaction in Chile

Philippi Prietocarrizosa Ferrero DU & Uría has counselled Santander Asset Management S.A. Administradora General de Fondos on the unconditional approval of merger control transaction by the National Economic Prosecutor’s Office, which derived of the joint venture between SAM S.A. and Patio Residencial SpA.

The deal, which was closed on April 26th, will allow SAM S.A. to expand and diversify its investment portfolio since now it will participate in a market where it wasn’t active.

In addition, through this joint venture, Santander Asset Management S.A., after partnering with Patio, a leading real estate group, will seek to monetise the fund and meet the needs of its investors.

PPU’s team was led by partner Ignacio Larraín (pictured left) along with associate Gabriel Budnik (pictured right); while Claro & Cía participated with the assistance of partners José Miguel Huerta and Santiago Bravo, among with associates Tomás Kreft and Tomás Gothe.