Agrícola el Retiro S.A.S., Agrícola Santamaría S.A.S., CMA Terminals, C.I. Tropical S.A.S., C.I. Unión de Bananeros de Urabá S.A., PIO S.A.S. and Sociedad de Comercialización Internacional Banafrut S.A.’s $220 Million Investment Agreement


Posse Herrera Ruiz, Ascent Consultoría, UH Abogados, Gómez Pinzón, Willkie Farr & Gallagher, Dentons Cárdenas & Cárdenas and Lewin & Wills advised on the project

Agrícola el Retiro S.A.S., Agrícola Santamaría S.A.S., CMA Terminals, C.I. Tropical S.A.S., C.I. Unión de Bananeros de Urabá S.A., PIO S.A.S. and Sociedad de Comercialización Internacional Banafrut S.A., as sponsors, executed an investment agreement pursuant to which the parties will develop a multipurpose port terminal located in Bahía Colombia, within the municipality of Turbo, in the region of Urabá, Colombia.

The multipurpose terminal will be dedicated to containers, general cargo, bulk and roro for a 30-year period pursuant to the concession agreement entered into by and between Puerto Bahía Colombia de Urabá S.A., a Colombian port company (sociedad portuaria) and the Agencia Nacional de Infraestructura on March 20, 2019, with a an initial capacity of approximately 650,000 TEU.

The closing of the investment agreement is subject to customary conditions for this type of transaction, including the execution of final financing agreements with lenders.

The sponsors’ initial investment is estimated at USD 220 million.

Posse Herrera Ruiz advised the Sponsors with Gabriel Sánchez (Picture), Emilia Arango (Projects), Juan David Velasco (Tax) and Hernán Panesso (Antitrust).

Ascent Consultoría advised Agrícola SantamaríawithPatricia Arce and Diego Bernal, Associate: Juan Camilo Ramírez.

UH Abogados advised C.I. Tropical S.A.S., Agrícola el Retiro S.A.S. and Sociedad de Comercialización Internacional Banafrut S.A. with Carlos Henao.

Gómez Pinzón advised C.I. Unión de Bananeros de Urabá S.A. with Andrés Hoyos, Adriana Moreno and María Clara Palacio.

Willkie Farr & Gallagher LLP advised CMA Terminals with Annette Péron.

In Colombia, Dentons Cárdenas & Cárdenas advised PIO with Pablo Jaramillo and Mariana Gutiérrez.

Lewin & Wills advised PIO with Adrián Rodríguez and Cristina Stiefken.

Involved fees earner: Patricia Arce – Ascent Consultoría; Diego Bernal – Ascent Consultoría; Mariana Gutiérrez – Dentons – Cárdenas & Cárdenas; Pablo Jaramillo Valencia – Dentons – Cárdenas & Cárdenas; Adriana Moreno Marquéz – Gómez-Pinzón; María Clara Palacio Gaviria – Gómez-Pinzón; Andrés Hoyos Ramirez – Gómez-Pinzón; Adrián Rodríguez – Lewin & Wills; Cristina Stiefken – Lewin & Wills; Emilia Arango – Posse Herrera Ruiz; Hernán Panesso – Posse Herrera Ruiz; Gabriel Sánchez – Posse Herrera Ruiz; Juan David Velasco – Posse Herrera Ruiz; Carlos Fernando Henao – UH Abogados; Annette Péron – Willkie Farr & Gallagher;

Law Firms: Ascent Consultoría; Dentons – Cárdenas & Cárdenas; Gómez-Pinzón; Lewin & Wills; Posse Herrera Ruiz; UH Abogados; Willkie Farr & Gallagher;

Clients: Agrícola el Retiro S.A.S.; Agrícola Santamaría S.A.S.; C.I. Tropical S.A.S.; CMA Terminals; PIO S.A.S. ; Sociedad de Comercialización Internacional Banafrut S.A.; Unión de Bananeros de Urabá S.A.;

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Author: Ambrogio Visconti.