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UncategorizedBruchou advised Werthein Group in the acquisition of DirecTV Latin America

July 22, 2021

General Corporate
Mergers & Acquisitions

Bruchou asisted Werthein Group in the agreement to acquire AT&T’s Vrio Corp. business unit (DIRECTV Latin America, SKY Brazil and DIRECTV GO).
Bruchou acted as lead Latin America counsel, leading the coordination of top firms in Brazil, Chile, Colombia, Ecuador, Peru, Uruguay, Venezuela, Trinidad and Tobago, Curaçao and Barbados.

Werthein Groupis a private holding company that has been doing business in Latin America and internationally for more than 100 years and has extensive experience in telecommunications, finance, insurance, agribusiness and real estate, has agreed to acquire, subject to customary closing conditions, 100% of the equity in Vrio, a leading digital entertainment services company with 10.3 million subscribers across[1] 11 countries in Latin America and the Caribbean.[2] .

Vrio provides live and on-demand video services via DIRECTV Latin America, SKY Brazil and DIRECTV GO. Vrio’s best-in-class entertainment includes world-class sporting events, international content and exclusive programming. Vrio offers services in Brazil through the SKY brand and in Argentina, Barbados, Chile, Colombia, Curacao, Ecuador, Peru, Trinidad and Tobago and Uruguay through the DIRECTV brand. DIRECTV GO is an over-the-top (OTT) subscription service that offers online access to a variety of live and on-demand programming in Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru and Uruguay.

Vrio’s infrastructure includes satellites and state-of-the-art broadcast centers that carry 4K video formats. Vrio’s broadband operations, along with other investments, including Torneos y Competencias in Argentina and WIN Sports in Colombia, will transfer toWerthein Group at close.

 

Legal advisors of Werthein Group:
Lead Latin America Counsel
Bruchou, Fernández Madero & Lombardi
Partners Olmos, Estanislao H., Lombardi, Carlos E; associates Dulce, Nicolás, Rocca, Agustina, Rolon, Macarena and Lannutti, Sonia.Also, assisted partners Minorini Lima, Ignacio J. and expert counsel Zocca, Juan Antonio (TMT), Lozano, Gabriel (Antitrust), Fernández Pfizenmaier, Paula (IP).

 

[1] As of June 30, 2021 and including OTT subscribers.

[2]Vrio’s broadband operations in Colombia and AT&T’s interest in SKY Mexico are not included in the transaction.

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