The Puerto Antioquia Project is the fulfilment of a long-held dream by the Antioquia Department and Colombia of having a top-of-the-line multipurpose port in the Urabá gulf. The benefits of this project for the region and the country will be far reaching during its construction and operation. The Project consists of a multipurpose port terminal located in Bahía Colombia, within the municipality of Turbo, in the region of Urabá, Colombia. The multipurpose terminal will be dedicated to containers, general cargo, bulk and roro for a 30-year period pursuant to the concession agreement entered into by and between Puerto Bahía Colombia de Urabá S.A., a Colombian port company (sociedad portuaria) and Agencia Nacional de Infraestructura.
Posse Herrera Ruiz acted as Colombian legal counsel to Agrícola Santamaría S.A.S., CMA-CGM S.A., C.I. Tropical S.A.S., C.I. Unión de Bananeros de Urabá S.A., Eiffage S.A., Pio S.A.S. Puertos Inversiones y Obras S.A.S., Sociedad de Comercialización Internacional Banafrut S.A. and Termotecnica Coindustrial S.A.S., as sponsors, in the closing for the senior loan disbursement by Inter-American Investment Corporation, Inter-American Development Bank, China Co-Financing Fund for Latin America and the Caribbean, Banco de Comercio Exterior de Colombia S.A. Banco Davivienda S.A. and Financiera de Desarrollo Nacional S.A. and the mezzanine loan disbursement by Global Infrastructure Partners pursuant to which the sponsors will develop the Puerto Antioquia Project.
Posse Herrera Ruiz also acted as Colombian legal counsel to Agrícola Santamaría S.A.S., CMA-CGM S.A., C.I. Tropical S.A.S., C.I. Unión de Bananeros de Urabá S.A., Eiffage S.A., Pio S.A.S. Puertos Inversiones y Obras S.A.S., Sociedad de Comercialización Internacional Banafrut S.A. and Termotecnica Coindustrial S.A.S., in the transactions leading to the effective initial investment in the Puerto Antioquia project pursuant to a previously announced investment agreement involving, among other actions, the entry as shareholders in the Puerto Antioquia project and the execution of the relevant shareholders’ agreement.
The sponsors’ initial investment is estimated at USD 149 million, the senior loan at USD 393,7 million and the mezzanine loan at USD 130 million.
- Value: 672.000.000 USD
- Announcement date: October 04, 2021
- Closing date: April 13, 2022
Legal Advisors
Counsel to sponsors
Inhouse Counsel to Puerto Antioquia Holding S.A.S.
| Leading | David Escobar y Emilia Arango |
Posse Herrera Ruiz
| Leading Partner and Other Partners involved | Gabriel Sánchez and Mariana Posse |
| Other Lawyers | Jesús Albarrán, Alejandro González, Susana Gómez, Lucero Gómez and Alejandro Fernández |
Herbert Smith Freehills
| Leading Partner and Other Partners involved | Michaël Armandou and Edward Dougherty |
| Other Lawyers | Lina Vélez, Pauline Verrier, Greoffroy Postel and Sebastián Rodríguez |
Counsel to Agrícola Santamaría S.A.S. y C.I. Unión de Bananeros S.A.
Inhouse Counsel
Gómez-Pinzón Abogados
| Leading Partner and Other Partners involved | Adriana Moreno |
| Other Lawyers | Juan Pablo Caicedo, Catalina Prieto, Paola Valderrama, Isabela Hoyos and Andrés Eduardo Gómez |
Counsel to C.I. TROPICAL S.A.S. Y SOCIEDAD DE COMERCIALIZACIÓN INTERNACIONAL BANAFRUT S.A.
UH Abogados
| Leading Partner and Other Partners involved | Carlos Henao |
Counsel to CMA-CGM S.A.
Inhouse Counsel
| Leading | Thierry Lemaire and Manon Marichez |
Willkie Farr & Gallagher
| Leading Partner and Other Partners involved | Anette Péron |
| Other Lawyers | Marion Bellemin and Liza Scemama |
Counsel to Eiffage s.a.
Gide Loyrette Nouel
| Leading Partner and Other Partners involved | Alexis Pailleret |
| Other Lawyers | Marie Bouvet and Chloé Bouhours |
Counsel to Infraestructura y Energía UPI S.A.C.
Baker McKenzie
| Leading Partner and Other Partners involved | Ricardo Trejos |
| Other Lawyers | Sebastián Boada, Nathalia Cardoso and Fernando Sam |
Counsel to PIO S.A.S., Puertos Inversiones y Obras S.A.S.
Dentons Cárdenas y Cárdenas
| Leading Partner and Other Partners involved | Pablo Jaramillo |
| Other Lawyers | Laura Streubel and Ana María Barrios |
Counsel to Termotecnica Coindustrial S.A.S
Inhouse Counsel
Financial advisors
Astris Finance
| Leading Partner and Other Partners involved | Romain Papassian and Santiago Pardo |
| Other Lawyers | Joaquín Fernández |
Counsel to senior lenders
Cuatrecasas (Bogotá)
| Leading Partner and Other Partners involved | Manuel Quinche and Juan Carlos Puentes |
| Other Lawyers | Natalia Arango, Andrés Herrera, Angie Gómez, Sofia Esguerra and Gabriela Forero |
Clifford Chance
| Leading Partner and Other Partners involved | Lori Bean and Alberto Haito |
| Other Lawyers | Julián Vallejo and Joyce Moore |
Counsel to Citibank
Alston & Bird
| Leading Partner and Other Partners involved | Bradley Johnson |
| Other Lawyers | Daniel Jouppi |
Brigard & Urrutia
| Leading Partner and Other Partners involved | Carlos Urrutia |
| Other Lawyers | Santiago Jaramillo |
