Philippi Prietocarrizosa Ferrero DU & Uría advised Grupo Argos on a takeover bid for its infrastructure subsidiary ODINSA.
Grupo Argos is a Colombian conglomerate headquartered in Medellin with investments in the cement and energy industries with operations in Colombia, Costa Rica, the United States, Panamá, Honduras and the Caribbean.
ODINSA focuses on management, promotion and development of large-scale infrastructure projects.
With this deal, valued at $272 million, Grupo Argos increased its ownership of ODINSA from 54% to 98%. The transaction included an exchange tender offer paid in cash and preferred shares.
Partner Claudia Barrero led the PPU team which acted for Grupo Argos.