PPU instructed in two merger control procedures in Colombia
Philippi Prietocarrizosa Ferrero DU & Uría advised Indra Sistemas and Avolon in separate matters with the competition authorities in Colombia.
On the first matter, the firm advised Spain-headquartered Indra on merger control issues arising from its acquisition of Tecnocom.
Indra is Spanish consulting and technology company with over 36,000 employees and operations in more than 140 countries. In November 2016 it launched a tender offer for smaller rivals Tecnocom, an ICT consultancy with presence in Spain, Portugal and Latin America. Tecnocom has significant market share in banking and payment systems in Spain and Latin America.
Partner Diego Cardona led the PPU team advising Indra.
For a separate case, Avolon instructed PPU on Colombian merger control matters as part of the company´s acquisition of the aircraft leasing business unit of CIT Group.
Avolon an aircraft leasing company based in Ireland and controlled by HNA Group, a Chinese conglomerate which also owns Hainan Airlines. Avolon will pay $10 billion for CIT Group’s leasing unit. CIT Group is an American financial holding company.
Partners Martín Carrizosa and Diego Cardona led the PPU team advising Avolon on merger control issues in Colombia.
Wachtell, Lipton, Rosen & Katz acted as global counsel to CIT Group on the sale to Avolon.
