White & Case advises Del Río family on the £1.3 billion business combination of Derco Group and Inchcape plc
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Global law firm White & Case LLP has advised the Del Río family on the business combination of the Derco Group with Inchcape plc for cash and share consideration of £1.3 billion on a cash free, debt free basis.
White & Case partner David Lewis, who led the Firm's deal team, said: "Our work on this transaction, alongside Chilean law firm Barros & Errázuriz, demonstrates our top-tier capabilities on complex cross-border deals involving London listed entities."
The Derco Group is headquartered in Santiago, Chile, and is the largest independent automotive distributor in Latin America, with long-standing partnerships with global original equipment manufacturers (OEMs) such as Suzuki, Mazda and Renault. Following completion, which due to the size of the transaction is subject to approval of the shareholders of Inchcape plc as a Class 1 Transaction, the Del Río family will hold a combined stake of approximately 9.3 percent in Inchcape.
The White & Case team in London which advised on the transaction was led by partners David Lewis and Mark Richardson and included partner Will Smith and associates Iman Algubari, Peter North and Sonica Tolani. The Barros & Errázuriz team in Santiago was led by partner Pablo Guerrero, and also included partner Lucas Marinovic and associates Daniela Tumani and Juan Ignacio Basagoitia. A team from Garrigues in Santiago, led by partner Óscar Ferrari, advised on Chilean tax matters.
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