TCL Argentina and Radio Victoria Fueguina S.A. $23 Million Joint Venture


Marval, O’Farrell & Mairal and Zang, Bergel & Viñes advised on the deal

TCL Multimedia Technology Holdings Limited (“TCL Multimedia” or the “Group”, HKSE stock code: 01070.HK) announced that TCL Argentina, an indirect wholly-owned subsidiary of the Group, has entered into a subscription agreement with RV, one of Argentina’s largest consumer electronics and home appliance manufacturers and distributors. According to the agreement, TCL Argentina will establish a joint venture (“JV”) with RV, and will own 15% equity in the JV. The move aims to consolidate its industry position and increase the competitiveness in the market by utilising the synergies and complementation of the JV.

RV is one of the top three brands in the consumer electronics and home appliance industry in Argentina, and possess the capabilities of research and development, manufacture, retail, as well as brand operations for various top international brands. RV has been in the consumer electronics and home appliance industry for 70 years and has performed well in terms of market competition and profitability in the recent decade. It has a very strong manufacturing base in Tierra del Fuego, a tax-free zone in the south of Argentina, which allows it to enjoy a variety of tax benefits. As TCL’s representative in Argentina, RV has been a strategic partner to TCL since 2004, producing and distributing TCL-branded TV, mobile phones, A/C, and refrigerators in the country.

Marval, O’Farrell & Mairal advised TCL Multimedia Technology Holdings Limited with Pablo Artagaveytia (Picture), Mariano Martín Morat, Maria Soledad Noodt Molins and Santiago Antonio Carregal.

Zang, Bergel & Viñes advised Radio Victoria Fueguina S.A., Sontec S.A. and Megasat S.A. with Juan Manuel Quintana, Pablo Vergara Del Carril and María Agustina Valenti.

Involved fees earner: Juan Manuel Quintana – Zang, Bergel & Viñes Abogados; Pablo Vergara del Carril – Zang, Bergel & Viñes Abogados; María Agustina Valenti – Zang, Bergel & Viñes Abogados; Pablo Artagaveytia – Marval, O’Farrell & Mairal; Mariano Martin Morat – Marval, O’Farrell & Mairal; Maria Soledad Noodt Molins – Marval, O’Farrell & Mairal; Santiago Antonio Carregal – Marval, O’Farrell & Mairal;

Law Firms: Zang, Bergel & Viñes Abogados; Marval, O’Farrell & Mairal;

Clients: TCL Multimedia Technology Holdings Limited; Radio Victoria Fueguina S.A.; Sontec S.A. ; Megasat S.A.;

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Author: Ambrogio Visconti.