Ashmore acquires majority stake in Ática Group

Cuatrecasas, through two independent work teams, has advised the sellers (Varese Investments S.L., Baiyin Investments S.L., Oil Recovery Systems Co., and the minority shareholders of IA4 S.A.S.) and buyer (Fondo Ashmore Andino III – FCP and Ashmore Andean Fund III, LP) on acquiring the Ática Group. The advisory services covered the purchase of 97.96% of the issued and outstanding shares of IA4 S.A.S. and its subsidiaries in Colombia, Peru, Guatemala and the Dominican Republic, and also the debt reprofiling.

BTG Pactual acted as the sellers’ exclusive financial advisor for both the company sale and the debt reprofiling.

This transaction was particularly complex because, in addition to negotiating the share purchase agreements and conducting the due diligence that involved different companies and jurisdictions, the Cuatrecasas legal teams had to perform different key operations in parallel to be able to close the deal.

This transaction marks Ashmore’s strategic entry into the waste management and recycling business, underlining its commitment and mandate to invest in sustainable assets with important environmental aspects in Colombia.

On the sellers’ side, the transaction marked an important milestone in its exit strategy, with the sale of an iconic asset from its portfolio.

The Cuatrecasas team advising Ashmore was made up of lawyers Felipe Mariño, Álvaro Rueda, María Alejandra Rueda and Laura Garay. The firm’s advisory team for the vendor companies was formed by Juan Felipe Vera, Daniela Duarte, María Salome Perea and María Camila Solano.