Morales & Besa advised Evergreen Marine (Hong Kong) (EGH) in the acquisition of 60% participation in Green Andes Shipping Agency (Chile) SpA (GASAC).

December 27, 2018

Morales & Besa advised Evergreen Marine (Hong Kong) (EGH), a company pertaining to the Evergreen group, in the acquisition of 60% participation in Green Andes Shipping Agency (Chile) SpA (GASAC), a Chilean company that is part of the Ultramar group, dedicated to the maritime agency services area.

The transaction involved 2 phases, the first being the supervision of the process under which Green Andes Agencia Marítima Limitada assigned its agency service business to GASAC, by constituting it as a specially purpose vehicle, together with the corresponding due diligence process to the effective transfer of assets and certain material contracts to GASAC. The second stage involved the negotiation of a shareholders’ agreement, share subscription agreement, employees transfer agreement and several documents required to implement the agreements described above.

The Morales & Besa team that participated in this operation was made up by partner Eugenio Besa, senior associates Lorena Barrientos, María José Enriquez and Angelina Miglioreli, and associates Sebastián Nieme and Mariana Schnettler.