Santiago Fontana, Ferrere Abogados, Bolivia
Petrobras has announced plans to purchase downstream operations from Shell in Colombia, Paraguay and Uruguay worth US$140 million.
A trust has been established by the city of Montevideo to raise money for its transport system. On 4 November it issued peso-denominated securities worth 532 million Uruguayan pesos (US$22.5 million).
Three banks have been awarded a total of US$128 million including fees and interest for breach of contract in arbitration proceedings against the Republic of Uruguay before the International Chamber of Commerce.
Dana Corporation, has sold its automotive aftermarket business to Affinia, an affiliate of The Cypress Group, in a deal with a global value of some US$1.25 billion. The divestiture, which included the sale of operations in five Latin American countries, comprised some US$950 million in cash and a seller’s note with a face value of US$74.5 million. The transaction, which was first announced on July 8, closed on November 30.
The Inter-American Investment Corporation (IIC) has approved a five-year, US$5 million A loan and a US$5 million B loan to SAMAN, a major Uruguayan rice producer. The deal closed on December 20, 2004.
Spanish telco Telefónica SA has completed the acquisition of Bellsouth Corporation’s Latin American mobile phone assets, for US$5.8 billion, reportedly creating the largest mobile operator in the region. The last part of the deal closed on January 11.
Grain processor ADM Investment Ltd and maritime logistics company Stellamaris Internacional have signed an agreement with the Uruguayan government to construct and develop a US$31 million port facility in the country’s free zone area of Nueva Palmira. The accord was signed on June 18 and work on the facility is expected to begin in July.
Uruguayan state meat agency Instituto Nacional de Carnes (INAC) has reached an agreement with Danish food technology company Scanvaegt International for a contract for the implementation of the ‘Cajas Negras’ (Black Boxes) system to be installed in 38 local meat processing plants. The contract was signed on June 4.
Uruguayan free trade zone operator Zonamerica SA has been granted a nine-year, US$4.5 million loan by the Inter-American Investment Corporation (IIC). The agreement was executed on December 22, in the presence of the President of Uruguay, Jorge Batlle and the President of the Inter-American Development Bank, Enrique Iglesias.