Itaú CorpBanca’s $334 Million Acquisition Of 20.82% Shares In Itaú CorpBanca Colombia


Posse Herrera Ruiz and Wachtell, Lipton, Rosen & Katz assisted Itaú CorpBanca; Simpson Thacher & Bartlet advised Corp Group Holding; Gunster advised Helm, and Lewin & Wills advised Kresge Stock Holding Company on the deal.

Itaú CorpBanca executed the acquisition of shares of Itaú CorpBanca Colombia from Helm LLC and Kresge Stock Holding Company, representing approximately 20.82% of ItaúCorpBanca Colombia’s outstanding equity for aggregate consideration of approximately US$ 334 million.

As a result of the transactions, Itaú Corpbanca owns approximately 87.10% of the equity of Itaú Corpbanca Colombia.

Following the transactions, the Amended and Restated Shareholders Agreement of HB Acquisition S.A.S., dated as of July 31, 2013, which governs Itaú Corpbanca Colombia was terminated.

Itaú CorpBanca in house counsel was Cristián Toro. Alicia Robayo acted as in house counsel to Helm LLC.

The Posse Herrera Ruiz team was led by partners Gabriel Sánchez (Picture) and Mariana Posse, with assistance from associates Lina Lineros, Sebastián Echeverri, Catalina Noreña and paralegal Daniel Meza.

The Wachtell, Lipton, Rosen & Katz team was led by partners Jonathan M. Moses and Brandon C. Price and associates Nicholas C.E. Walter.

The Simpson Thacher & Bartlet team included partners David Williams, Juan Naveira and Lynn Neuner and associate Joshua Slocum.

The Gunster team was led by partner Timothy S. Danninger.

The Lewin & Wills team included partners Emilio Wills and Diana Vaughan and associate Francisco González.

Involved fees earner: Timothy Danninger – Gunster; Francisco González – Lewin & Wills; Diana Vaughan – Lewin & Wills; Emilio Wills – Lewin & Wills; Sebastián Echeverri – Posse Herrera Ruiz; Lina Lineros – Posse Herrera Ruiz; Catalina Noreña – Posse Herrera Ruiz; Mariana Posse – Posse Herrera Ruiz; Gabriel Sánchez – Posse Herrera Ruiz; Juan Naveira – Simpson Thacher & Bartlett; Lynn Neuner – Simpson Thacher & Bartlett; Joshua Slocum – Simpson Thacher & Bartlett; David Williams – Simpson Thacher & Bartlett; Jonathan Moses – Wachtell, Lipton, Rosen & Katz; Brandon Price – Wachtell, Lipton, Rosen & Katz; Nicholas Walter – Wachtell, Lipton, Rosen & Katz;

Law Firms: Gunster; Lewin & Wills; Posse Herrera Ruiz; Simpson Thacher & Bartlett; Wachtell, Lipton, Rosen & Katz;

Clients: Corp Group Holding; Helm LLC; Itaú Corpbanca; Kresge Stock Holding Company;

Author: Ambrogio Visconti.