Banco de Valores, the financial entity most identified with the capital market in Argentina, merged with and absorbed Grupo Financiero Valores. Grupo Financiero Valores is the successor company of Mercado de Valores de Buenos Aires S.A., also known as MERVAL, and was, prior to the merger, a majority shareholder of Banco de Valores. Marval O'Farrell Mairal has participated as advisor in the merger of both companies.
The effective date of reorganization was November 3, 2021; and on January 7, 2022, Grupo Financiero Valores shares were exchanged for Banco de Valores shares. The merger will provide significant operating and economic advantages, which will benefit the companies as well as their shareholders, third parties and contractors.
For Grupo Financiero Valores' shareholders to obtain shares of a company listed in BYMA, Banco de Valores had to enter the public offering regime as part of the merger. Also, given Banco de Valores' status as a financial entity, it complied with the Argentine Central Bank’s applicable regulations.
In addition, the merger of Banco de Valores and Grupo Financiero Valores represents a major milestone in their history and has been a great challenge given that Grupo Financiero Valores is the company with the greatest dispersion in terms of number of shareholders at the local level. There are very few cases of mergers involving financial entities.
Marval O'Farrell Mairal acted as legal advisor to the transaction through a team led by partner Roberto E. Silva, with the collaboration of partner Maria Laura Bolatti and associates Martín I. Lanús (currently working as foreign associate, in the United States) and Maria Soledad Noodt Molins.
Brady Abogados advised Banco de Valores S.A. on internal corporate matters, with a team led by partner Lucas Brady and associate Juan Locícero.