Grupo Werthein’s Acquisition of AT&T’s Vrio Corp. Business Unit

Grupo Werthein is represented in the U.S. by Skadden, Arps, Slate, Meagher & Flom, LLP, Demarest, Bruchou, Fernandez Madero & Lombardi, Carey, Posse Herrera Ruiz, Bustamante & Bustamante, Estudio Rodrigo Elias & Medrano, Pollonais, Blanc, de la Bastide & Jacelon, Guyer & Regules, BZSE, Chancery Chambers and D’Empaire. Sullivan & Cromwell LLP acted as legal advisor to AT&T in the transaction.

Grupo Werthein has reached an agreement to acquire AT&T’s Vrio Corp. business unit. Grupo Werthein is a private holding company that has been doing business in Latin America and internationally for more than 100 years and has extensive experience in telecommunications, finance, insurance, agribusiness and real estate. Grupo Werthein has agreed to acquire, subject to customary closing conditions, 100% of the equity in Vrio.

AT&T Inc. (NYSE:T) is a diversified, global leader in telecommunications, media and entertainment, and technology. Consumers and businesses have more than 225 million monthly subscriptions to our services.

Vrio is a leading provider of digital entertainment services in Latin America and the Caribbean with 10.3 million subscribers in 11 countries and close to 9,000 employees across the region. Vrio delivers best-in-class entertainment including world-class sporting events, international content and exclusive programming.

The Skadden team advising on the acquisition included M&A partner Paola Lozano (Partner; New York), counsel Ralph Pérez (Chicago) and associate Daniel Hernandez (São Paulo). The Skadden team advising on the financing included Capital Markets partner Alejandro Gonzalez Lazzeri (New York) and associate Nicolas Perez-Sierra (New York). Also advising on the transaction is Intellectual Property and Technology partner Bruce Goldner (New York), counsel Oren Epstein (New York), and associate Allison Lasher (New York); Tax partner Edward Gonzalez (New York) and associate Peter Benesch (New York); Executive Compensation and Benefits partners Erica Schohn (New York) and Joseph Penko (New York), and associate Lucas Almonte (New York); Antitrust/Competition partner Kenneth Schwartz (New York) and counsel Rita Sinkfield Belin (New York); CFIUS and National Security partner Michael Leiter (Washington, D.C.), and associates Katie Clarke (Washington, D.C.) and Crispin Smith (Washington, D.C.); Corporate Restructuring partner George Panagakis (Chicago); International Litigation and Arbitration partner Jennifer Permesly (New York); Corporate associate Emily Migliore (Chicago); and Latin America law clerk Emilia Cadenas (New York).

Bruchou, Fernández Madero & Lombardi advised Grupo Werthein with a team led by partners Estanislao H. Olmos, Carlos E. Lombardi, supported by associates Nicolás Dulce and Agustina Rocca. The team also included partners Ignacio J. Minorini Lima, (Telecommunication), Gabriel Lozano (Competition), and Paula Fernández Pfizenmaie (Intellectual Property).

In Brazil, Demarest advised Werthein with Gabriel R. Kuznietz, Andoni Hernandez Bengoa, Bruno Aurelio,  Priscila Faricelli, Fabio Tayar and Marina Zago.

In Barbados, Chancery Chambers advised Werthein with Trevor Carmichael, Giles M. Carmichael, Angela R. Robinson and Tammy O. Thornhill.

In Curacao, BZSE Attorneys advised Werthein Jaap Maris.

In Chile, Carey advised Werthein with Pablo Iacobelli, Alfonso Silva, Eduardo Martin, Jaime Carey A. and Vicente Yubini.

In Colombia, Posse Herrera Ruiz advised Werthein with Jaime Cubillos, Santiago Osorio and Laura Aristizábal.

In Ecuador, Bustamante & Bustamante advised Werthein with Juan Felipe Bustamante, Jose Rafael Bustamante Crespo, Andrea Egas, Kirina Gonzalez and Jose Antonio Bustamante.

In Perú, Estudio Rodrigo Elias & Medrano advised Werthein with Enrique Palacios, Soleil Castro, Alejandro Araujo and Luis Fernando Roca.

In Trinidad & Tobago, Pollonais, Blanc, de la Bastide & Jacelon advised Werthein with Amalia Maharaj and  Ranjana Rambachan.

In Uruguay, Guyer & Regules advised Werthein with Nicolas Piaggio, Juan Manuel Mercant, Maria Noel Riotorto, Renato Guerrieri and Jonathan Clovin.

In Venezuela D’Empaire advised Werthein with Fulvio Italiani, José Humberto Frías, Giancarlo Carrazza, Daniel Bustos and Ornella Bernabei.

Sullivan & Cromwell advised AT&T with Eric M. Krautheimer, Werner Federico Ahlers, Ari B. Blaut, Nader A. Mousavi, Isaac J. Wheeler, Kristen B. Klein,  Mark Schenkel, Virginia H. Cueva, Jennifer A. Mao-Jones, Alexander C. Bavis, Gabrielle N. Pacia, Brandon A. Newman, Noam R. Weiss, Jay D. Thornton, Jameson S. Lloyd and Zachary W. Feldman.

Involved fees earner: Luis Fernando Roca – BLP; Nicolás Dulce – Bruchou, Ferna?ndez Madero & Lombardi; Paula Fernández Pfizenmaier – Bruchou, Ferna?ndez Madero & Lombardi; Carlos Lombardi – Bruchou, Ferna?ndez Madero & Lombardi; Gabriel Lozano – Bruchou, Ferna?ndez Madero & Lombardi; Ignacio Minorini Lima – Bruchou, Ferna?ndez Madero & Lombardi; Estanislao Olmos – Bruchou, Ferna?ndez Madero & Lombardi; Agustina Rocca – Bruchou, Ferna?ndez Madero & Lombardi; Juan Felipe Bustamante Crespo – Bustamante & Bustamante; José Rafael Bustamante Crespo – Bustamante & Bustamante; Andrea Egas – Bustamante & Bustamante; Kirina González – Bustamante & Bustamante; Jaap Maris – BZSE Attorneys; Jaime Carey Jr – Carey; Pablo Iacobelli – Carey; Eduardo Martin – Carey; Alfonso Silva – Carey; Vicente Yubini – Carey; Giles Carmichael – Chancery Chambers; Angela Robinson – Chancery Chambers; Tammy Thornhill – Chancery Chambers; Trevor Carmichael – Chancery Chambers; Ornella Bernabei – D’Empaire Reyna ; Daniel Bustos – D’Empaire Reyna ; Giancarlo Carrazza – D’Empaire Reyna ; José Humberto Frías – D’Empaire Reyna ; Bruno Aurélio – Demarest; Priscila Faricelli – Demarest; Andoni Hernandez Bengoa – Demarest; Gabriel Ricardo Kuznietz – Demarest; Marina Roversi Zago – Demarest; Fábio Tayar – Demarest; Fulvio Italiani – D’Empaire Reyna; Jonathan Clovin – Guyer & Regules; Renato Guerrieri – Guyer & Regules; Juan Manuel Mercant – Guyer & Regules; María Noel Riotorto – Guyer & Regules; Nicolás Piaggio – Guyer & Regules; Amalia Maharaj – Pollonais, Blanc, de la Bastide & Jacelon; Ranjana Rambachan – Pollonais, Blanc, de la Bastide & Jacelon; Laura Aristizábal – Posse Herrera Ruiz; Jaime Cubillos – Posse Herrera Ruiz; Santiago Osorio – Posse Herrera Ruiz; Alejandro Araujo – Rodrigo, Elías & Medrano Abogados; Soleil Castro – Rodrigo, Elías & Medrano Abogados; Luis Enrique Palacios – Rodrigo, Elías & Medrano Abogados; Lucas Almonte – Skadden Arps Slate Meager & Flom; Rita Sinkfield Belin – Skadden Arps Slate Meager & Flom; Peter Benesch – Skadden Arps Slate Meager & Flom; Katie Clarke – Skadden Arps Slate Meager & Flom; Oren Epstein – Skadden Arps Slate Meager & Flom; Bruce Goldner – Skadden Arps Slate Meager & Flom; Edward Gonzalez – Skadden Arps Slate Meager & Flom; Alejandro Gonzalez Lazzeri – Skadden Arps Slate Meager & Flom; Daniel Hernandez Tascòn – Skadden Arps Slate Meager & Flom; Allison Lasher – Skadden Arps Slate Meager & Flom; Michael Leiter – Skadden Arps Slate Meager & Flom; Paola Lozano – Skadden Arps Slate Meager & Flom; Emily Migliore – Skadden Arps Slate Meager & Flom; George Panagakis – Skadden Arps Slate Meager & Flom; Joseph Penko – Skadden Arps Slate Meager & Flom; Ralph Perez – Skadden Arps Slate Meager & Flom; Nicolas Perez Sierra – Skadden Arps Slate Meager & Flom; Jennifer Permesly – Skadden Arps Slate Meager & Flom; Erica Schohn – Skadden Arps Slate Meager & Flom; Kenneth Schwartz – Skadden Arps Slate Meager & Flom; Crispin Smith – Skadden Arps Slate Meager & Flom; Werner Ahlers – Sullivan & Cromwell; Alexander Bavis – Sullivan & Cromwell; Ari Blaut – Sullivan & Cromwell; Virginia Cueva – Sullivan & Cromwell; Zachary Feldman – Sullivan & Cromwell; Kristen Klein – Sullivan & Cromwell; Eric Krautheimer – Sullivan & Cromwell; Jameson Lloyd – Sullivan & Cromwell; Jennifer Mao-Jones – Sullivan & Cromwell; Nader Mousavi – Sullivan & Cromwell; Brandon Newman – Sullivan & Cromwell; Gabrielle Pacia – Sullivan & Cromwell; Mark Schenkel – Sullivan & Cromwell; Jay Thornton – Sullivan & Cromwell; Noam Weiss – Sullivan & Cromwell; Isaac Wheeler – Sullivan & Cromwell;

Law Firms: BLP; Bruchou, Ferna?ndez Madero & Lombardi; Bustamante & Bustamante; BZSE Attorneys; Carey; Chancery Chambers; D’Empaire Reyna ; Demarest; D’Empaire Reyna; Guyer & Regules; Pollonais, Blanc, de la Bastide & Jacelon; Posse Herrera Ruiz; Rodrigo, Elías & Medrano Abogados; Skadden Arps Slate Meager & Flom; Sullivan & Cromwell;

Clients: AT&T; Grupo Werthein;

Author: Martina Bellini