© Peggy / Marco Lachmann-Anke
Bofill Mir & Álvarez Jana (BMAJ) has advised Patria Investment, in the acquisition of Grupo O Dos, the holding company of Chilean gym chain “Gimnasios O2”. The $35m deal was closed on March 27nd.
The deal consisted of the acquisition of 100% of the Chilean gyms, as well as the entrance of the Chilean sellers to the Brazilian holding, Smartfit Escola de Ginástica e Dança S.A. The purchase was made through an international swap of shares and a minor part in cash.
Patria Investment made the deal in partnership with Blackstone, as controlling shareholders of Grupo Bio Ritmo, owner of the Smartfit and Bio Ritmo gyms. With the transaction, Gimnasios O Dos now owns a 5% share of Smartfit.
Representation included carrying out due diligence on 15 Chilean companies, tax planning, coordination with Brazilian lawyers for the drafting of the share purchase agreement and the shareholders agreement; as well as several ancillaries’ documents in Brazil and Chile.
BMJA acted as counsel to Patria Investment and Blackstone with a team led by partners José Antonio Velasco Alessandri and Guillermo Fonseca Mardones, assisted by Jorge Ignacio Valenzuela and Jorge Andrés Valenzuela.
Cescon, Barrieu, Flesch & Barreto Advogados served as legal counsel to Smartfit Escola de Ginástica e Dança S.A. in Brazil, Pérez de Arce Abogados acted as legal counsel to Grupo O Dos in Chile and Chamon Santana Advogados served as legal counsel to Grupo O Dos in Brazil.