Hernández & Cía. Abogados advised Grupo Andino in the acquisition of the shares that Corporación América Airports S.A. -part of an Argentinian based conglomerate that includes different industries such as airports, agro-industries, energy and infrastructure- held in Aeropuertos Andinos del Perú S.A.C. which represented 50% of the capital stock, for a confidential amount. By virtue of the transaction, Grupo Andino has become the sole controller of the company (through four related entities: Andino Investment Holding S.A., Multilog S.A., Almacenes Financieros S.A. and Andino Capital Sociedad Administradora de Fondos de Inversión S.A.).
The acquisition was carried out through the execution of a share purchase agreement under which, among others, the seller agreed to assume some liabilities of Aeropuertos Andinos del Perú S.A.C., which included a specific security package. Likewise, the parties also entered some auxiliary agreements, such as private indemnity agreements, corporate collaterals, write-off agreements and corporate documentation, some of which are subject to foreign law.
Aeropuertos Andinos del Perú S.A.C. is the concessionaire for the operation of the airports of Arequipa, Juliaca, Ayacucho, Puerto Maldonado and Tacna in Peru. Regarding Grupo Andino, it is a Peruvian group with experience of more than 49 years in managing leading companies that develop and operate airport infrastructure and services, real estate, logistics and financial logistics (being Andino Investment Holding S.A.A. listed on the Lima Stock Exchange).