We advised on labor law matters and syndicated loan granting in favor of Dreamco S.A. for its acquisition of P&G business in Argentina

New Deal - April 10, 2024

Dreamco S.A. (“Dreamco”) has completed the acquisition of P&G’s household cleaning products business in Argentina, operated under the Magistral and Ariel brands. The process began with the signing of the asset purchase agreement on September 5, 2023, and successfully concluded on March 15, 2024. As part of this transaction, the plant and distribution center located in Pilar, Buenos Aires province, along with the equipment and exclusive use permits associated with the acquired business, have been transferred. Additionally, the Magistral brand in Argentina, Uruguay, and Chile has been transferred, as well as a perpetual license for the Ariel brand.

Bruchou & Funes de Rioja provided advice to Dreamco on labor-related aspects regarding the hiring of P&G employees linked to the acquired business.

Additionally, the banking law team of the firm advised Banco de Galicia y Buenos Aires S.A.U. and Banco BBVA Argentina S.A. on the granting of a syndicated loan to Dreamco for financing purposes, addressing upcoming working capital demands, establishing a mortgage on the acquired property, and assigning certain receivables.

Counsel to Dreamco S.A.:

Tavarone, Rovelli, Salim & Miani, through partners Federico Otero, Nicolas Eliaschev, Julian Razumny, Gaston Miani, Marcelo Tavarone, consultant Pablo Arrascaeta, and associates Camila Evangelista, Paula Cerizola, María Emilia Diaz, Francisco Stéfano, Gonzalo Vázquez, Marcos Martínez Cuadrado, Agustina Busso, Micaela Aisemberg, Eduardo Cano, and Juan Cruz Carenzo.

Bruchou & Funes de Rioja‘s HR Law Department through partners Carlos Lopez, Eduardo Viñales, and María Eugenia Santos, and associate Ana Verónica Ruffini.

Ojam Bullrich Flanzbaum, through partner Camila Sirianni and associate Paula Mariana Caraffa Morando.

Noetiger Armando, through partner Pablo Armando and associates Salomé Paternostro and Silvina Gamallo.

Counsel to Banco de Galicia y Buenos Aires S.A.U. and Banco BBVA Argentina S.A.:

Bruchou Funes de Rioja‘s Banking & Capital Markets, through partner Analía Battaglia and associates Josefina Mortola Saiach, Lucila Dorado, and Pedro Azumendi.

Counsel to P&G:

The Procter & Gamble Company: in-house lawyer Matthew Loftus.

Procter & Gamble Argentina S.R.L.: in-house lawyers Ivana Blumensohn and María Belén Macías.

External advisors in the United States: Jones Day, through partner Ann Bomberger and associates Julia Feldman and Samuel Weiss.

External advisors in Argentina: Baker McKenzie, through partners Esteban Ropolo and Geraldine Mirelman, and associates Candelaria Munilla, Tomás Trusso, Victoria Holze, Juan Bautista Cervio, and Martina Mendiondo.