Source: Latin Lawyer
Two Proskauer Rose LLP offices, Beccar Varela in Buenos Aires, Bolivian firm CR & F Rojas Abogados, Paraguay’s Vouga Abogados and Posadas in Montevideo have helped US logistics group Rocktree acquire Argentine port and river transportation services company Atria Soluciones Logísticas from Florida-based investor Southern Cross.
Southern Cross relied on Winston & Strawn LLP in New York and Argentina’s Salaverri, Burgio & Wetzler Malbrán.
The deal was signed on 5 February. Its value remains confidential.
With this acquisition, Rocktree has purchased all of Atria’s entire Latin American portfolio, through which it operates push-boats, barges and port terminals as well as offshore floating cranes and shipyard repair facilities in Argentina, Brazil, Paraguay and Uruguay.
By incorporating Atria’s operations, Rocktree significantly expands its global footprint and adds commodities and agriculture assets to its logistics portfolio.
Rocktree used a portion of a US$350 million injection it got from a fund managed by UK investor EnTrust Globalto to pay for its latest acquisition.
Headquartered in Connecticut, Rocktree operates a network of offshore floating terminals as well as vessels and barges across Asia, Europe, the US and Latin America.
Founded in 1994, Atria is one of the largest logistics companies operating on one of Latin America’s busiest waterways – the Paraguay-Parana route. It has over 500 employees and operations in five countries, spanning some 4,000 kilometres of waterways.
Southern Cross specialises in investments across Latin America in several industries, including logistics, consumer goods and services. It has a presence in Argentina, Brazil, Chile, Colombia, Mexico and Uruguay.
There have been several transactions in Latin America’s logistics sector recently. In December, two special purpose vehicles owned by Mexican logistics giant Consorcio Integral de Comercio Exterior (CICE) obtained US$204 million in financing to fund the construction of a new port terminal off the Gulf of Mexico. This came one month after the Brazilian arm of steel producer ArcelorMittal signed a joint venture agreement with local logistics company Multitex to develop a terminal in the Brazilian state of Minas Gerais for limestone transportation.
Counsel to Rocktree Logistics Group
Proskauer Rose LLP
Partners Joshua Apfelroth and Daniel Ganitsky in New York; and partner Barry Newman in London
Beccar Varela
Partners Carolina Serra, Daniel Seoane and María Eduarda Noceti, and associates Mercedes Pando, Juan Pablo Perrino and Belén Ravenna in Buenos Aires
CR & F Rojas Abogados
Partners César González and María del Carmen Ballivián in La Paz
Vouga Abogados
Partners Rodolfo Guillermo Vouga, Rodrigo Fernandez and Manuel Acevedo, and associates Cecilia Vera, Antonella Llamas, Silvia Benitez, Lucas Rolo, Belen Rodriguez and Camila Dutra in Asunción
Posadas
Partners Tomas Gurmendez, Victoria Garabato and Lucía Barrios, and associates Martina Reyes, Mariana Fernandez, Victoria Elduayen, Emiliano Opertti, Sofía Humaian, Magdalena Cuñarro, Luciana Lopez, Juana Lenguas and Guzmán Oehler in Montevideo
Counsel to Southern Cross Group
Winston & Strawn LLP
Partner Kevin Smith in New York
Salaverri, Burgio & Wetzler Malbrán
Partners Tomás Arnaude, Josefina Ryberg, Germán Wetzler Malbrán and Santiago Freyre, and associates Santiago Linares and Carolina Naguelquin in Buenos Aires
This article was updated on 13 February 2025 to include CR & F Rojas Abogados and Vouga Abogados as counsel to Rocktree and on 18 February 2025 to include Posadas as Uruguayan counsel to Rocktree.