Chile’s Carey and AyG Legal have helped real estate management company Grupo Patio cement its ownership of its subsidiary, shopping centre operator Patio Comercial, by purchasing a 50% stake from investment manager Capitol Advisors.
With the acquisition, Patio now owns 100% of its subsidiary. Garrigues (Chile) advised Capitol Advisors.
Running parallel to the deal, Chilean real estate company Inmobiliaria Algeciras carried out a capital increase in Patio in exchange for shares. Patio and Algeciras have signed an agreement to jointly manage the shopping centre operator.
The deal closed on 30 November with no value disclosed.
Counsel to Grupo Patio
Partners Claudio Lizana, Salvador Valdés and Cristián Figueroa and associates Raimundo Honorato and Natalia Acevedo
Partner Carolina Menichetti and associates Benjamin Salas, Sybil O’Reilly and Francisco Pinochet
Counsel to Capital Advisors
Partner José Miguel Rioseco and associates María Teresa Aldunate and Carlos Arias