Air Products increases its stake in Indura to 97%July 30, 2015, by - LATIN LAWYER
US industrial gas company Air Products has retained Carey to increase its stake in Chilean counterpart Indura to 97 per cent by buying out the company’s largest other shareholder.
A holding company controlled by Chile’s Briones family sought advice from Urenda, Rencoret, Orrego y Dörr Abogados to sell its remaining 30 per cent stake in the company. The deal closed on 21 July.
The transaction’s value was not revealed, but Air Products paid US$884 million to acquire its initial 67 per cent interest in the company three years ago. Carey, Argentina’s M & M Bomchil Abogados, Colombia’s Posse Herrera Ruiz, Ecuador’s Pérez Bustamante & Ponce Abogados and Peru’s Payet, Rey, Cauvi, Pérez Abogados advised the US company for that deal, while Indura hired Urenda Rencoret, Chile’s Vial y Cía, Colombia’s Brigard & Urrutia Abogados, Ecuador’s Bustamante & Bustamante and Peru’s Estudio Saco-Vertiz & Asociados.
Counsel to Air Products
In-house counsel – Tom Kenyon
Partner Jaime Carey and associates Solange Gonzalez, Juan Pablo de la Maza and Fernanda Pardo
Counsel to Inversiones y Desarrollos
Urenda, Rencoret, Orrego y Dörr Abogados
Partners Gonzalo Rencoret, Sergio Orrego and Nicholas Mocarquer and associates Raúl Gómez and Bernardita Schmidt