British automotive company Inchcape have enlisted PPO Abogados to advise in connection to the Bolivian aspects of its acquisition of Derco for £1.3 billion (US$1.5 billion). The multijurisdictional transaction covered Bolivia, Chile, Colombia and Perú.
The parties signed the agreement on 27 July. The deal is expected to close in late 2022 or early 2023, dependent on closing conditions.
Inchcape will fund its acquisition of 100% of Derco’s shares through a cash, debt and stock transactions.
The agreement combines Inchcape’s broad geographical reach with Derco’s well-established footprint in Bolivia, Chile, Colombia and Peru.
Derco is the largest independent automotive distributor by volume in Latin America, operating more than 375 dealerships across Chile, Bolivia, Colombia and Peru.
Counsel to Inchcape