Liberty Media Corp and Hicks, Muse, Tate & Furst have re-organised their ownership interests in Argentina's two largest sports programmers, at the request of the national antitrust authority. The share swap means that Fox/Pan-American Sports, their long awaited broadcasting joint venture, can begin.
Global power company AES has issued US$300 million worth of bonds in the international market, guaranteed by four electricity distribution companies it controls in El Salvador.
The Venezuelan antitrust agency Procompetencia has imposed a fine and a cease and desist order against Sabre for exclusionary practices.
The largest retailer in the world has moved into Central America. Wal-mart has bought a third of CARHCO, which owns 363 supermarkets in the region, and at a stroke increased its international presence from ten to fifteen countries.
US firm Hogan & Hartson L.L.P. has lured partner Bruno Ciuffetelli from Hoet Peláez Castillo & Duque to launch an office in Caracas. The new office, which opened on 26 September, is Hogan & Hartson's first in Latin America.
The Argentine Ministry of Finance has ordered Liberty Media Corp and Texan-based fund Hicks, Muse, Tate & Furst, Inc to separate their ownership interests in the country’s two largest sports programmers. The decision was given on September 29, and allows the creation of a joint venture in the country’s sports television market to go ahead, subject to a pair of share swap transactions.
Argentine energy companies TermoAndes and InterAndes have successfully completed the restructuring of their more than US$188 million of financial debt through funds provided to their Chilean holding company AES Gener by a syndicate of international banks. The transaction closed on April 16.
The AES Corporation, through its subsidiary AES Parana Generation Holdings Ltd, has acquired the remaining interest in the AES Paraná project from PSEG Cayman Americas V Company. The deal closed on November 28.
Costa Rican hotel concessionaire Grupo Istmo de Papagayo SA (GIP) has received a senior financing facility from Scotiabank (Cayman Islands) Ltd for US$53 million and a subordinated financing facility from Four Seasons Hotels Limited for US$5 million. The first disbursement from the facilities was made on April 15.
Pemex Petroquímica (PPQ), the petrochemicals subsidiary of Mexican state-owned oil giant Pemex, will open bidding in March 2003 for the construction and operation of a petrochemical complex in either Coatzacoalcos (Veracruz) or Altamira (Tamaulipas), Mexico. The project will require investments of US$1 to 2 billion.