Posse Herrera Ruiz acted as local counsel and coordinated legal teams in different jurisdictions of Odinsa S.A., concessions company of Grupo Argos, in the closing of the strategic alliance with Macquarie Asset Management (MAM), the largest infrastructure asset manager in the world, for the operation and investment in the airport infrastructure business of Odinsa in Colombia and Ecuador, in which each has a 50% stake and which includes combined assets for about COP 1.3 trillion.

This announcement is made after completing all conditions precedent, including obtaining authorizations of authorities in different jurisdictions including the Colombian Finance Superintendence, the National Infrastructure Agency of Colombia, the Superintendence of Market Power Control of Ecuador; as well as obtaining authorizations from financiers, insurers, the concession companies and their shareholders, as applicable.

By this transaction, Grupo Argos S.A. sold to Macquarie its entire stake in Opain, corresponding to 30% of the company. Odinsa sold shares in Opain representing 2.49% of the shares of this company, as well as 50% of its origination rights in certain private initiatives, and 50% of its shares in Corporación Quiport S.A., International Airport Finance S.A. and Quiama LLC Delaware.

Following the closing of the foregoing sales and the subsequent creation and contribution by the parties of their related assets into an airport infrastructure investment platform, such platform already positions among the leaders in the region, in terms of size, holding El Dorado in Colombia and Mariscal Sucre in Ecuador, considered as two of the top in South America according to Skytrax; besides the participation in projects and private initiatives, which include the new Cartagena Airport, El Dorado Max and El Dorado Flight Field. The transaction required involvement of external legal counsel in Colombia, New York, Ecuador, Spain and BVI.

The interest shown by Macquarie is good news for Odinsa, the sector and the country, since it ratifies the confidence and interest of global players to continue investing in Colombia, promoting the fulfillment of the goals that the country has set in terms of air connectivity and intermodalism.

Driven by the wide experience of both companies that constitute this solid platform, Odinsa Aeropuertos will continue exploring other investments and value creation opportunities in Colombia and in the American continent.

• Value: 297.342.391.121 COP plus 76.348.029 USD
• Announcement date: September 28, 2022
• Closing date: June 29, 2023

Legal Advisors

Counsel to Odinsa

Odinsa’s Inhouse Counsel

Posse Herrera Ruiz

Willkie, Farr & Gallagher LLP

Uría

Pérez Bustamante Ponce

White & Case

Counsel to Macquarie Infrastructure and Real Assets (MIP)

Macquarie Infrastructure and Real Assets (MIP) inhouse Counsel

Gibson, Dunn & Crutcher LLP

DLA Piper Martínez Beltrán

Bustamante Fabara

DLA España