Morales & Besa has advised Evergreen Marine, a company owned by the Evergreen group, in the acquisition of a 60% participation in Green Andes Shipping Agency Chile (GASAC), a Chilean company part of the Ultramar group, dedicated to the maritime agency services area. The $36.2m deal closed September 29th.
The transaction involved the supervision of the process under which Green Andes Agencia Marítima Limitada assigned its agency service business to GASAC, constituting it as a specially purpose vehicle, as well as the corresponding due diligence process to the effective transfer of assets and certain material contracts to GASAC.
In addition, the transaction also involved the negotiation of a shareholders’ agreement, share subscription agreement, employees transfer agreement and several documents required to implement the agreements described above.
The Morales & Besa team was made up of partner Eugenia Besa, assisted by senior associates Lorena Barrientos, María José Henríquez and Angelina Miglioreli and associates Sebastián Nieme and Mariana Schnettler.
Vial y Cía acted as legal counsel to Green Andes, with a team led by partner Rafael Ossa, assisted by associates Cristián Lozano and Jorge Correa.