Carey Advised The Bank of Nova Scotia and Scotiabank Chile in the Negotiation of a 15-year Business Alliance with Cencosud
July, 2014 - Santiago, Chile
Carey acted as local counsel to The Bank of Nova Scotia and Scotiabank Chile in the negotiation of a 15-year business alliance between Cencosud, Cencosud Retail and other Cencosud subsidiaries for the joint furthering of the consumer finance business in Chile.
The deal entails the direct acquisition by Scotiabank Chile of 51% of Cencosud Administradora de Tarjetas, a credit card issuer, and the indirect acquisition of other related companies, such as Cencosud Administradora de Procesos, Cencosud Servicios Integrales and Cencosud Corredora de Seguros Limitada. Additionally, Scotiabank Chile granted a loan for up to USD3 billion to the companies mentioned above.
Carey advised The Bank of Nova Scotia and Scotiabank Chile through a team led by partners Diego Peralta, Felipe Moro, Francisco Ugarte and associates Elena Yubero, Manuel José Garcés, Paulina Silva, Alejandra Donoso, Agustín Fracchia, Loreto Ribera, Luciano Aguilera, Cristina Busquets and Andrés Salas.
