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BSF Represents Inkafarma in Sale to Interbank Group

Corporate Highlights

Firm Newsletter Spring 2011

Stefan dePozsgay

BSF represented Inkafarma in its acquisition by an affiliate of Interbank Group.  Inkafarma operates the largest retail pharmacy chain in Perú, with over 400 retail stores and over 5,000 employees. Interbank Group is one of the largest conglomerates in Perú, with existing banking, insurance and retail operations, including national supermarket chain Supermercados Peruanos and credit card operator Finance One. 

The transaction was the result of a very competitive bidding process in which Interbank Group delivered the most attractive bid out of approximately ten diverse companies vying for the pharmacy chain.  Partner Robert Leung, who headed the BSF team dedicated to the transaction, was quoted in Latin Lawyer saying the deal “made a lot of sense given the obvious synergies with Supermercados Peruanos,” as some of Inkafarma’s outlets are already located in Supermercados’ stores.

The sale of Inkafarma was structured as a sale by three intermediary holding companies of the stock of a Maltese company, which indirectly held the operating businesses known as Droguería Los Andes and Eckerd Perú.  In addition, Interbank Group acquired certain real estate assets in Perú from affiliates of Inkafarma.  The acquisition by Interbank Group was financed through a credit facility from Bank of America Merrill Lynch and JP Morgan.  The transaction also involved multiple jurisdictions, including not only the U.S. and Perú, but also Spain, Panama and Switzerland.

In addition to Leung, the BSF team consisted of partner Michael Kosnitzky and associates Stefan dePozsgay, Daniel Grossman, Drew McLelland, Ivan Mitev and Francisco Nuñez



Related Lawyers: Michael Kosnitzky, Stefan G. dePozsgay, , Ivan Mitev, , Daniel A. Grossman

Related Practice: Corporate