Martínez Quintero Mendoza González Laguado & De La Rosa has helped Colombian bank Corficolombiana acquire a 51% stake in the concession company that holds a public-private partnership (PPP) with the City of Bogotá for the renovation of the capital’s El Campín stadium.
Philippi Prietocarrizosa Ferrero DU & Uría (Colombia) advised the concessionaire Sencia and its shareholders on the transaction.
The deal closed on 15 January for a confidential amount.
Corficolombiana – a subsidiary of Colombian finance company Grupo Aval – is now the controlling shareholder of the Sencia concessionaire and will lead the redevelopment of the El Campín sports and entertainment stadium.
The transaction is thought to mark one of Colombia’s most significant urban infrastructure projects.
Having invested in the concessionaire, Corficolombiana aims to modernise the stadium, expand its commercial use, and strengthen its role as a cultural and sporting hub for Bogotá.
The deal comes amid a recent swell of interest in Latin American PPPs. In January, for example, Milbank in New York and Panama’s Alfaro, Ferrer & Ramírez helped a concessionaire owned by Colombian infrastructure group ISA secure financing to redevelop Panama’s East Pan-American motorway through a PPP, with White & Case LLP, Icaza, González-Ruiz & Alemán in Panama City and Panamá’s Morgan & Morgaan acting for the lenders. A month prior, Chilean state-owned group Codelco entered a lithium joint venture with local miner SQM for Chile’s largest PPP to date. Carey and Claro & Cía were Chilean counsel in the deal, Cleary Gottlieb Steen & Hamilton LLP and Linklaters featured as international counsel.
Counsel to Sencia and its shareholders
Philippi Prietocarrizosa Ferrero DU & Uría (Colombia)
Partner Martín Acero and associates Natalia Velasco, Natalia Guerrero, Tatiana Díaz and Juan Manuel Gutiérrez
