Latin Lawyer 2021 Deal of the Year Award: Grupo Werthein

Bruchou & Funes de Rioja - May 5, 2022
Latin Lawyer 2021 Deal of the Year Award
Grupo Werthein
Acquisition of DirecTV – Sky’s regional business in 11 countries in Latin America and the Caribbean originally owned by AT&T Inc.

Bruchou, Fernández Madero & Lombardi
is proud to announce that the acquisition by the Werthein Group from AT&T of the Vrio Corp. business unit (DIRECTV Latin America, SKY Brasil and DIRECTV GO) has been recognized as Latin Lawyer Deal of the Year 2021 in the M&A category.

Bruchou advised the Werthein Group as Lead Latin American counsel leading the operation throughout the region with firms from multiple jurisdictions (eg Brazil, Chile, Colombia, Ecuador, Peru, Uruguay, Venezuela, Trinidad and Tobago, Curaçao and Barbados, among others) and simultaneously coordinating all regulatory, antitrust, intellectual property, etc. matters. involved.

Werthein Group – a private holding company that has been doing business in Latin America and internationally for more than 100 years with extensive experience in telecommunications, finance, insurance, agribusiness and real estate – has agreed to acquire, subject to customary closing conditions, 100% of the equity in Vrio, a leading digital entertainment services company with 10.3 million subscribers[1] across 11 countries in Latin America and the Caribbean.[2]

We thank the Werthein Group for the trust in our Firm, and the Bruchou team for their commitment and professionalism.

Legal advisors of Werthein Group:

Lead Latin American Counsel – Bruchou, Fernandez Madero & Lombardi: Estanislao H. Olmos, Carlos E. Lombardi, Nicolás Dulce, Agustina Rocca, Macarena Rolón and Sonia Lannutti (M&A). Also, assisted by Ignacio Minorini Lima and Juan Zocca (Telecom), Gabriel Lozano (Antitrust), and Paula Fernandez Pfizenmaier (IP).

US – Skadden, Arps, Slate, Meagher & Flom, LLP: Paola Lozano, Ralph Pérez, Daniel Hernandez and Emily Migliore (M&A); Alejandro Gonzalez Lazzeri, Nicolas Pérez Sierra and Emilia Cadenas (Capital Markets); Bruce Goldner, Oren Epstein and Allison Lasher (IP); Edward Gonzalez and Peter Benesch (Tax); Erica Schohn, Joe Penko and Lucas Almonte (Benefits); Ken Schwartz and Rita Sinkfield Belin (Antitrust); Michael Leiter, Katie Clarke and Crispin Smith (CFIUS); Jennifer Permesley and Amanda Raymond Kalantirsky (International Arbitration).

In-house – Ricardo Perez Ruiz.

Brazil – Demarest Advogados: Gabriel R. Kuznietz, Andoni Bengoa Hernandez, Bruno Aurelio, Priscila Faricelli (partners), and Fabio Tayar and Marina Zago (associates).

Barbados – Chancery Chambers: Trevor Carmichael and Giles M. Carmichael (partners), and Angela R. Robinson and Tammy O. Thornhill (associates).

Curacao – BZSE Attorneys: Jaap Maris (partner).

Chile – Carey: Pablo Iacobelli, Alfonso Silva, Eduardo Martin (partners), and Jaime Carey A. and Vicente Yubini (associates).

Colombia – Posse Herrera Ruiz: Jaime Cubillos (partner), and Santiago Osorio and Laura Aristizábal (associates).

Ecuador – Bustamante & Bustamante: Juan Felipe Bustamante and Jose Rafael Bustamante Crespo (partners), and Andrea Egas, Kirina Gonzalez and Jose Antonio Bustamante (associates).

Peru – Estudio Rodrigo Elias & Medrano: Enrique Palacios (partner) and Soleil Castro, Alejandro Araujo and Luis Fernando Roca (associates).

Trinidad & Tobago – Pollonais, Blanc, de la Bastide & Jacelon: Amalia Maharaj (partner) and Ranjana Rambachan (associate)

Uruguay – Guyer & Regules: Nicolas Piaggio and Juan Manuel Mercant (partners), and Maria Noel Riotorto, Renato Guerrieri, and Jonathan Clovin (associates).

Venezuela – D’Empaire: Fulvio Italiani and José Humberto Frías (partners), and Giancarlo Carrazza, Daniel Bustos and Ornella Bernabei (associates).

Legal advice to AT&T:

Sullivan & Cromwell LLP.

Financial advisor:

Goldman Sachs & Co. LLC.

[1] As of June 30, 2021 and including OTT subscribers.

[2] Vrio’s broadband operations in Colombia and AT&T’s interest in SKY Mexico are not included in the transaction.