Azevedo Sette Advogados and Simpson Thacher & Bartlett LLP assisted Andrade Gutierrez Concessões S.A. and ADC&HAS Corporation in the restructuring and taking over of the operator of Juan Santamaría International Airport, in San José, Costa Rica. The agreement for the administration of the property will remain valid until 2026.
US-based engineering company Bechtel and Britain’s TBI Airport Management were the sellers, with Bechtel turning to Latham & Watkins LLP, and TBI retaining and WilmerHale.
Current lender and hedge providers to the project also participated in the deal. The International Finance Corporation engaged White & Case LLP and hedge providers Commerzbank and Deutsche Bank used Milbank, Tweed, Hadley & McCloy LLP.
Costa Rica’s regulatory body gave the deal its approval on July 20th. The closing of the operation took place simultaneously in Washington and in San José.
The value of the transaction is confidential. Azevedo Sette Advogados assisted the acquirers throughout the entire process. Partner Frederico Bopp Dieterich led the team, which was also formed by associates Fabiana Soares Leme and Roberto Ribas Wilson. According to Frederico Dieterich: “This has been a very complex deal, that involved a restructuring asset, intricate negotiations among buyers, sellers, lenders and the government and lasted more than 18 months. Thankfully it reached a successful result to all parties and the deal closed.”