Caisse Nationale de Crédit Agricole (CNCA) of France has executed a stock purchase and shareholder agreement with Sociedad de Inversiones Norte-Sur SA of Chile for the acquisition of 600,000 shares of SINS in Chilean bank Banco de Desarrollo (BBD). The purchase represents 5.30 per cent of the capital stock of BBD. The transaction was closed on November 16.
Buenos Aires-based firm M & M Bomchil has acted as legal adviser to Irvin & Johnson Ltd, the South African fishing conglomerate, in the purchase of 100 per cent of the stocks of Alpesca SA (one of the largest fishing companies in Argentina), from Alpargatas SA, the shoe manufacturer.
Cablevisión SA, the largest Multiple System Operator in Argentina, has undergone an internal shareholder reorganisation, as a result of which affiliates of Hicks, Muse, Tate & Furst Inc and Liberty Media Corporation now each control a 50 per cent equity stake in the company.
Enron is taking the Republic of Argentina to the International Center for Settlement of Investment Disputes (ICSID) of the World Bank.
Buenos Aires firm M & M Bomchil has helped the large French distribution group Carrefour to buy a substantial part of Supermercados Norte SA, the largest supermarket chain in Argentina. Until the acquisition, Supermercados Norte had been part of the Exxel Group. The transaction leaves Carrefour with sole control of Supermercados Norte SA and its subsidiaries, including Tía and Casa Lozano.
M & M Bomchil and Bado Kuster advised paper producer Fanapel in a stock purchase agreement which was signed in New York on October 20, 2000.
The acquisition on May 15, 2000 leaves Banco Bisel SA and Banco Suquía SA as the largest regional bank group of the country.
May 3, 2000 saw the completion of a secondary offering of approximately 50 million shares of Telecom Argentina Stet France Télécom SA, aggregating approximately US$270 million, the largest Argentine equity transaction of the year in the capital markets.