30 05 2016

Southern Cross Group acquires Petrobras Chile Distribución Ltda. from Petrobras for $490 million

Chadbourne & Parke LLP is currently advising Southern Cross Group on its acquisition of Petrobras Chile Distribución Ltda. (PCD) from Petróleo Brasileiro S.A. (Petrobras).


PCD owns 279 service stations, as well as eight fuel distribution terminals, operations in 11 airports, one lubricants plant and a stake in two logistics companies. The final value of the transaction, after accounting for agreed upon customary price adjustments, is expected to be approximately US$490 million.  The transaction is subject to approval of final terms and conditions by the Executive Committee and the Board of Directors of Petrobras and the Executive Committee of Southern Cross Group, as well as any applicable regulatory approvals.   Southern Cross Group is a private equity investment firm established in 1998, with US$2.9 billion in assets under management. The firm focuses on investments in Latin America, particularly in companies in the industrial, services and logistics sectors. Chadbourne is a longstanding advisor to Southern Cross and has advised Southern Cross in connection with the formation of each of the five Southern Cross funds and with various portfolio company acquisitions and dispositions in Latin America. The Firm, led by Norberto Morita, Ricardo Rodriguez, Gonzalo Alende Serra, Raúl Sotomayor Valenzuela and Horacio Reyser, was founded in 1998. The Chadbourne team advising Southern Cross is being led by partners Kevin Smith (Picture) and Mort Grosz, and includes partner Erez Tucner and associates Patrick Narvaez, Jaime Huertas and Richard Wright. Involved fees earner: Kevin Smith - Chadbourne; Jaime Huertas - Chadbourne; Patrick Narvaez - Chadbourne; Morton Grosz - Chadbourne; Erez Tucner - Chadbourne; Richard Wright - Chadbourne;

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