French electrical equipment company Sonepar has bought its compatriot competitor Rexel’s operations in Brazil, Chile and Peru, with the help of French firm Bredin Prat, Philippi Prietocarrizosa & Uría (Chile), Peru’s Berninzon & Benavides Abogados and Brazil’s Gouvêa Vieira Advogados.
The deal closed for US$51 million on 16 September. Rexel hired Clifford Chance LLP in Paris, Chile’s Carey, Peru’s Rodrigo, Elías & Medrano Abogados and Pinheiro Neto Advogados in São Paulo for the sale.
Rexel announced in February it is divesting some of its assets to focus on core profitable areas in Europe, North America, Asia and the Pacific. The sale of its Chilean, Peruvian and Brazilian operations represents roughly 40 per cent of its divestment plan, and means the end of the company’s business in the region. All three operations combined constituted US$289 million in sales for the company. Sonepar will add these businesses to the operations it already controls in Brazil and Colombia.
Counsel to Sonepar
Partners Kate Romain and Pierre-Henri Durand and associates Christopher Zibordi and Anne Robert in Paris
Philippi Prietocarrizosa & Uría (Chile)
Partner Federico Grebe and associates Constanza Silberberg and Carlos Larraín in Santiago
Berninzon & Benavides Abogados
Partners Eduardo Benavides and Edgardo Bernuy and associates Carlos Ratti, Ivan Manucci and Kattia Trujillo in Lima
Gouvêa Vieira Advogados
Partners Jean Pierre Roy Jr, Vanessa Grosso da Silveira Lardosa and Carolina Rangel Jardim and associates Julie Schein and Priscilla Ramos Ribeiro in Rio de Janeiro
Counsel to Rexel
In-house counsel – Anne-Celine Sauvage
Clifford Chance LLP
Partner Fabrice Cohen and counsel Marianne Pezant in Paris
Partner Claudio Lizana and associates Juan Turner and María José Villalón in Santiago
Rodrigo, Elías & Medrano Abogados
Partners Eduardo Lopez and Jose Chiarella and associates Andrea Madueño, Ursula Ben-Hammou, Alexandra Arizmendi and Francisco Carrillo in Lima
Pinheiro Neto Advogados
Partner José Olavo Scarabotolo and associate Guilherme Bassan Amorim