Pérez-Llorca advises on the sale of 100% of the share capital of DIA Brazil to MAM Asset Management
Pérez-Llorca has advised the DIA Group on the sale of 100% of the share capital of DIA Brazil to MAM Asset Management, an entity that is part of Banco Master. This transaction will result in the complete divestiture of the DIA Group in Brazil (which operates more than 240 supermarkets), and the DIA Group will make a contribution of €39 million to DIA Brazil.
The transaction will involve the total divestment by Grupo Dia of the Brazilian territory, as well as a clean exit vis-à-vis MAM Asset Management, which means that Grupo Dia will assume limited liability.
The purchase and sale will be carried out at a symbolic price of 100 euros. In addition, Grupo Dia has committed to MAM Asset Management to make a contribution of funds for the benefit of Dia Brasil in the amount of 39 million euros.
The consummation of the transaction is subject to Grupo Dia obtaining authorization from the financial institutions for the syndicated financing.
The multidisciplinary team involved in the transaction was made up of Corporate/M&A partner Pablo González Mosqueira, who led the transaction, alongside a Corporate/M&A team formed by Gonzalo Sánchez-Quiñones, Ignacio Mozo, Borja Gil-Casares and Beatriz Olivares, Banking and Finance partner Ildefonso Arenas, Tax partner Norma Peña, and Intellectual Property and Technology associate Inés Molina.
