Uría Menéndez advised hotel group Barceló on its acquisition of a 57.5 per cent stake in Occidental Hotels and Resorts.
The transaction means that Barceló becomes the sole owner of the company as it already owned a 42.5 per cent stake.
Baker & McKenzie advised the seller, Valanza Capital Riesgo, according to Mergermarket data.
The deal is part of Barceló’s strategy for expansion in Latin America. The company acquired Occidental with the aim of strengthening its position in the Caribbean with new locations in Mexico and the Dominican Republic, while also accessing new territories such as Aruba, Colombia and Haiti.
Occidental Hoteles has 11 hotels in Mexico, Dominican Republic, Costa Rica and Aruba.