Global law firm White & Case LLP has advised Arroyo Energy Investment Partners LLC on the acquisition by its investment vehicle Inversiones Arco 4 SpA of the shares of Gasmar S.A. from Empresas Gasco S.A. and Abastible S.A. (a wholly-owned subsidiary of Empresas Copec S.A.). Gasmar, a Chilean company, owns and operates one of the largest LPG terminals on the Pacific Coast of South America. This terminal supplies a large majority of the liquid fuels to Santiago, Chile, and is very important to the Chilean economy. Gasmar also owns an LPG storage terminal under construction in northern Chile.
The W&C team advised on all New York and international aspects of the transaction – including the acquisition negotiations and the project development and finance work related to the concurrent purchase and transition of Gasmar S.A. from an integrated gas business to a terminals company through the establishment of bankable terminal use agreements. The transaction required timely and seamless coordination across the Firm's Global Project Development and Finance Practice and its Global M&A Practice – and significant efforts from the Derivatives Group to accommodate new interest rate hedging as well as Gasmar’s existing commodity hedging arrangements.
The White & Case team that advised on the transaction was led by partners Carlos Viana (Miami), Bill Parish (Houston) and counsel Fern Han (Houston), with support from partners Jeannine Acevedo (Miami), Steven Otillar (Houston) and Ian Cuillerier (New York) and associates Ana Maria Arias, Gretel Martinez, Jessica Mendoza, Maria Vanegas (Miami), Rhys Bortignon, Raffaele Montenero Turco (New York) and Carlos Ramón Díaz Sordo (Houston).
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