Grupo Inversor Petroquímica S.L., WST S.A. and PCT LLC’s Cash Tender Offer for Transportadora de Gas del Sur S.A.


Marval, O’Farrell & Mairal, Linklaters LLP, M. & M. Bomchil, Milbank and Sullivan & Cromwell LLP have advised on the transaction

Grupo Inversor Petroquímica S.L. (“GIP”), a limited company organized under the laws of Spain, WST S.A. (“WST”), a corporation organized under the laws of Argentina and PCT LLC (“PCT”), a limited liability company organized under the laws of the State of Delaware, United States of America completed the announced tender offer for up to a total of 194,651,345 outstanding Class B Shares of common stock, one peso nominal amount each per share, held by U.S. holders, including Class B Shares represented by American Depositary Shares, which represent twenty-four and one-half percent (24.5%) of the capital stock of Transportadora de Gas del Sur S.A., a corporation organized under the laws of Argentina, other than those held by the Offerors or their affiliates, in cash at a price of Ps. 18.39 per Class B Share and Ps. 91.95 per ADS.

Banco Itaú BBA S.A., Nassau Branch granted the funding, Bank of New York Mellon acted as depository agent . Caja de Valores S.A acted as paying agent.

Marval, O’Farrell & Mairal has advised Grupo Inversor Petroquímica S.L., WST S.A. and PCT LLC with Pablo Viñals Blake, Ricardo W. Beller, Diego Chighizola, Valentina Vullo, Nicolás Biggio, Matías Brouchy and Osvaldo Norte Sabino (h).

Linklaters LLP has advised Grupo Inversor Petroquímica S.L., WST S.A. and PCT LLC with Conrado Tenaglia (Picture), Peter Cohen-Millstein, Zach Caldwell, Kyle Colvin, Ricardo Menéndez and Rohan Muralidhar.

M. & M. Bomchil has advised Banco Itaú Argentina S.A. with Fermín Caride, Florencia Pagani and Pedro de Elizalde.

Milbank has advised Banco Itaú Argentina S.A. with Carlos Albarracín, Michael Bellucci, Daniel Gentel and Gonzalo Guitart.

Sullivan & Cromwell LLP has advised Transportadora de Gas del Sur S.A. with Robert Risoleo.

Involved fees earner: Fermín Caride – M. & M. Bomchil; Florencia Pagani – M. & M. Bomchil; Pedro De Elizalde – M. & M. Bomchil; Pablo Viñals Blake – Marval, O’Farrell & Mairal; Ricardo Beller – Marval, O’Farrell & Mairal; Diego Chighizola – Marval, O’Farrell & Mairal; Nicolás Enrique Biggio – Marval, O’Farrell & Mairal; Pedro Matias Brouchy – Marval, O’Farrell & Mairal; Osvaldo Norte Sabino (h) – Marval, O’Farrell & Mairal; Carlos Albarracín – Milbank; Michael Bellucci – Milbank; Dan Gentel – Milbank; Robert Risoleo – Sullivan & Cromwell; Conrado Tenaglia – Linklaters; Peter Cohen-Millstein – Linklaters; Zach Caldwell – Linklaters; Kyle Colvin – Linklaters; Ricardo Menéndez – Linklaters;

Law Firms: M. & M. Bomchil; Marval, O’Farrell & Mairal; Milbank; Sullivan & Cromwell; Linklaters;

Clients: Banco Itaú Argentina S.A.; Grupo Inversor Petroquímica S.L.; WST S.A.; PCT LLC; Transportadora de Gas del Sur S.A. ;

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Author: Ambrogio Visconti.