Chadbourne Advising Southern Cross on Acquisition of Petrobras Chile Distribución

Global Business May 9, 2016

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 Chadbourne team advising Southern Cross is being led by partners Kevin Smith and Mort Grosz, and includes partner Erez Tucner and associates Patrick Narvaez, Jaime Huertas and Richard Wright.

About Chadbourne & Parke

For more than a century, Chadbourne & Parke has counseled innovators around the world. We are a full-service law firm that leverages the extraordinary talent from our network of international offices to offer the highest caliber client service in more than 80 countries and across every region on the globe. Today, we are recognized internationally for our groundbreaking work in emerging economies and our deep experience in energy and infrastructure, corporate and finance transactions, international disputes, and bankruptcy and financial restructuring.