Restructuring and Insolvency

Advised:

• Cargill Financial Services International. and Cargill Business Solutions, as principal creditors in the landmark bankruptcy case of Altos Hornos de México. With a substantial claim of UD 632,299,838.62, this case, awarded in the 2nd District Court in Commercial Bankruptcy Matters (case number 19/2023), stands out not only as one of the largest but also as the most complex and significant in the history of Mexican bankruptcy law.

• Cargill Financial Services International. and Cargill Business Solutions, in their role as major creditors in the ongoing bankruptcy proceedings of Minera del Norte.

• U.S. Bank Trust Company, National Association, serving as the indenture trustee, in the ongoing bankruptcy case of Real Estate Investments and Placements.

• U.S. Bank Trust Company, National Association, in its role as the indenture trustee, this case involves the bankruptcy proceedings of Tangerine Pomelo Group. Overseen by the 2nd District Court in Commercial Bankruptcy Matters under case number 34/2023, the representation includes advocating for the recovery of USD 319,792,898.59 owed to our client. This case is emblematic of our commitment to navigating complex financial and legal landscapes to protect the interests of bondholders.

M&A

Advised:

• Vente-Privee for the sale of 100% equity interest in its Mexican subsidiary Privalia Venta Directa, and its subsidiaries that own and operate the business through the platform known as “Privalia” in Mexico.

• Cointer Concesiones México and Sociedad Michoacana de Constructores on the sale of their joint participation in the capital stock of Concesionaria de Autopistas de Michoacán to Fibra Vía, an energy and infrastructure investment trust, controlled by Infrastructure Promoter and Operator.

• Mezcal Ojo de Tigre (“ODT”) and its existing shareholders (through a Mexican Control Trust incorporated for such purposes) in the acquisition by Pernod Ricard México of a 40% equity participation in ODT, through a capital increase and purchase of shares of the existing shareholders.

• Casa Montelobos, Mezcal Montelobos® producer and Licorera Ancho Reyes, Ancho Reyes® chili liquor producer, in the sale of their 100% capital stock in two tranches to Campari, a major spirit brand owner and distributor.

• Abasolo Distillery and Winery and its existing shareholders in the acquisition by Pernod Ricard México of a 49% equity participation in Abasolo. The transaction also included the negotiation and execution of the documents applicable to the joint venture between Pernod Ricard and Abasolo's original shareholders.

• Grupo Financiero Banorte in reaching an agreement to acquire, through merger, Grupo Financiero Interactions. The acquisition included the banking, broker-dealer, insurance and asset manager subsidiaries of Grupo Financiero Interactions. Grupo Financiero Banorte has become the second-largest banking financial group in Mexico, and the country's largest infrastructure lender. Value: USD 1.4 billion.

• Asset Administration and Sale Agency (Property Management and Disposal Service or SAE) in the design and implementation of the procurement process for the sale of nine sugar mills that together represented 22.2% of the Mexican sugar production market. The deal is considered one of the most important commercial transactions in SAE's history.

• Nestlé México in the sale of its ice cream business in Mexico to Grupo Herdez, a publicly traded company in the Mexican Stock Exchange and one of Mexico's food manufacturing and distribution leaders. The transaction was subject to antitrust approval by the Mexican Economic Competition Commission. Value: USD 80 million.

• Panasonic Corporation in the acquisition of a stake in Hussmann Corporation, a Missouri-based manufacturer of refrigerated display cases and systems, from Clayton, Dubilier and Rice LLC, representative company of Hussmann Parent Inc.'s shareholders. Value: USD 1,545 billion.

Lending

Advised:

• Cargill Financial Services International on a financing package it provided to Altos Hornos de México (AHMSA), one of the largest steelmakers in Mexico. The financing consisted of an advance on receivable accounts and a revolver, which was used to pay off existing creditors. Value: USD 575 million.

• The Bank of Nova Scotia as lender and lead arranger in a loan facility granted to International Ceramics, a wall and floor tiles Mexican company, guaranteed by borrower's subsidiaries, guaranteed by some of Interceramic's subsidiaries. The proceeds of the loan were used for the refinancing of existing indebtedness and for general corporate purposes. Value: USD 30 million.

Projects

Advised:

• Altán Consortium on its winning bid to build and operate a mobile 4G network, which will be one of the largest Mexican telecom infrastructure projects during President Peña Nieto's administration. The Red Compartir network is set to cover more than 92 percent of Mexico's population, exceeding the 85 percent minimum coverage outlined in the auction, and will become operational for part of the population in early 2018. Value: USD 7 billion.

• BlackRock in structuring and setting up an investment vehicle funded with US$70 million contributed by the Mexican trust issuer of notes denominated development capital certificates (CKDs) managed by I Cuadrada, an entity recently acquired by BlackRock.

Acquisition Finance

Advised:

• Concessoc 31 SAS, a subsidiary of VINCI, in the negotiation and execution of a credit and guarantee agreement with Banco Inbursa, HSBC Mexico, and Scotiabank, which was crucial for the acquisition of a 29.9% stake in Grupo Aeroportuario del Centro Norte (OMA) from Fintech Advisory. Value: MXN 8.75 billion.

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