Tanoira Cassagne advises on reopening of agribusiness investment fund
Argentina’s Tanoira Cassagne Abogados has advised on the reopening of an agribusiness investment fund
The law firm provided legal advice to Allaria Ledesma Fondos Administrados Sociedad Gerente de Fondos Comunes de Inversión, as fund manager, agribusiness company ADBlick Granos in its role of investment adviser, and Banco Comafi as custodian in the reopening of the closed-end investment fund ADBlick Granos Fondo Común de Inversión Cerrado Agrepecuario, for an issuance totalling $3.7 million.
The issuance constitutes the first reopening of a closed-end investment fund in Argentina, the law firm said, The fund has a six-year term, which can be extended, and a maximum issuance amount of $10 million.
The fund was established for the exclusive purpose of granting profitability to shareholders by investing in equity rights represented or not by securities, with or without the public offering of companies and/or vehicles which may qualify as SMEs CNV in accordance with the provisions of the CNV Regulations, dedicated to agricultural exploitation including those in which ADBlick Granos and its controlling and controlled companies are party, and corporate bonds with or without a public offering, guaranteed or not, issued by companies and which may qualify as CNV SMEs in accordance with the provisions of the CNV rules, dedicated to agricultural businesses, including ADBlick Granos and its controlling and controlled companies.
The fund provided for a single class of shares and each share gives the right to one vote to participate in the distribution of profits and to participate in the proceeds that may exist at the time of the liquidation of the fund.
The shares of the fund have been authorised for listing on the Argentinian Stock Exchange.
Allaria Ledesma & Cía, Cohen SA and Alfy Inversiones SA also participated as placement agents.
Tanoira Cassagne’s team was led by partner Alexia Rosenthal (pictured) with associates Ignacio Nantes and Mariana Troncoso.
