Empresas Gasco and Abastible to Sell Gasmar to Arroyo Energy Group
The Firm is representing Empresas Gasco S.A. and Abastible S.A. (a wholly-owned subsidiary of Empresas Copec S.A.) in connection with their entry into an agreement to sell Gasmar S.A. to Inversiones Arco 4 SpA (Arroyo Energy Group), for approximately $422.5 million in cash. The transaction is subject to customary closing conditions, including receipt of regulatory approvals.
Gasmar S.A., a Chilean company, owns and operates the largest LPG terminal in the Pacific coast of South America.
The Simpson Thacher team includes Juan M. Naveira and Jon Vicuña (M&A); Benjamin Rippeon and Jasmine Hay (Tax); and Steve DeLott (Insurance).