Arbaro Fund LLP, a Luxembourg fund dedicated to the investment of forestry projects in Latin America, the Caribbean and Africa, acquired from an Ecuadorian company, a teak forestry project of approximately 1000 hectares, the purchase included the acquisition of biological and industrial assets in the provinces of Guayas, Manabí and Los Ríos in Ecuador, in addition to the acquisition of land. The amount of the transaction has not been officially disclosed.
The transaction included an asset purchase agreement, legal review of the title to the assets to be sold, including the status of the properties to be acquired, creation of local entities in charge of the operation, negotiation of a loan prepayment with a creditor of the seller, and the lifting of collateral for the sale of assets. The transaction closed on July 27 of this year.
Lexvalor Abogados was present as counsel to Arbaro Fund LLP from the beginning of the negotiations until the closing of the transaction, and currently continues advising the company in the beginning of its operations in Ecuador.
The lawyers in charge of the transaction were: partners Gabriela Guzmán and Fabricio Dávila, from the corporate and M&A side, partner Pablo Arias and associate Danny Espinosa, from the tax side, partner Karla Villacís and associate José Xavier Endara, from the labor side.