Market: International

Australian packagers seek clearance in South American jurisdictions

Australian packaging company Amcor Limited has acquired the PET (polyethelene terephithalate) container and white-cap closure assets of Schmalbach-Lubeca AG for US$2.875 billion.

28 June 2002

Argentine bank forced to restructure

Banco Río de la Plata SA, one of Argentina’s largest privately-owned banks, is to restructure US$200 million floating rate notes. The deal, which closed on June 21, comes as a response to the country’s ongoing economic crisis.

28 June 2002

Mexico cements its presence in Puerto Rico

Mexican cement maker, Cemex SA de CV is to acquire the Puerto Rico Cement Company Inc (PRCC) for an estimated US$250 million, of which US$70 million consists of PRCC’s debts. The deal was announced on June 6.

28 June 2002

Banco de Galicia also restructures debt

The New York branch of Banco de Galicia is restructuring a bilateral loan worth US$27 million. The restructuring deal closed on May 31, with Banco de Galicia y Buenos Aires’ New York branch, Banco de Galicia y Buenos Aires SA and Barclays Bank Plc being involved.

28 June 2002

Canadian investor buys Mexican cinemas group

Toronto-based private equity investor Onex Corp is to buy Grupo Cinemex SA de CV, a cinema exhibitor that runs 31 cinemas with 349 screens. Most are in Mexico City - making Onex the capital’s largest exhibitor with a majority share in the market.

28 June 2002

London and Madrid events show concern for future of Argentina and other Latin American countries

At two recent events in Madrid and London, the enormous difficulties involved in tackling the economic problems of Argentina and other Latin American countries were discussed.

28 June 2002

South American law firms join international alliance

ius laboris, the international alliance of leading law firms providing specialist services in employment, pension and employee benefits, has elected Argentine firm Funes de Rioja & Asociados and Brazil’s Mesquita Barros Advogados as its newest members.

28 June 2002

Bacardi's tequila shot

In a deal valued at approximately US$185 million, Bacardi Limited has purchased all the assets of the privately-owned Mexican drinks company Tequila Cazadores.

24 June 2002

Philip Morris loses trademark battle in Colombia

Cigarette maker CA Cigarrera Bigott Sucs has won the right to own the Belmont trademark in Colombia following an official decision in its favour. Last week the Colombian Trademark Office issued Resolution 15,669, which ruled that Cigarrera Bigott could register Belmont and device as a trademark under class 34 (tobacco, matches and smokers’ articles).

24 June 2002

Central American ministers discuss free trade with US

Representatives of multilateral institutions, international experts and academics, and trade ministers and officials from Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua took part last weekend in a roundtable at the Inter-American Development Bank in Washington DC. The meeting was on the prospects for a free trade agreement between Central America and the United States.

24 June 2002

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