Estudio Beccar Varela Advised Banco Galicia On the Sale of Efectivo Sí to Julio Alfredo Fraomeni y Galeno Capital
January, 2017 - Buenos Aires, Argentina
Estudio Beccar Varela advised Banco de Galicia y Buenos Aires S.A. and Grupo Financiero Galicia S.A. on the sale of Compañía Financiera Argentina (“CFA”, better known by its brand “Efectivo Sí”) and Cobranzas y Servicios (“C&S”) to Galeno Capital S.A.U. and Julio Alfredo Fraomeni, owner of the private medicine group Galeno. Likewise, MBA Lazard participated as financial advisor.
The transaction, which took place on January 12th, is subject to the approval of the Central Bank and the Antitrust Commission, and implies the transfer of all CFA and C&S shares to the purchasers.
CFA owns the credit network "Efectivo Sí" and was created to provide personal loans to low-income segment of the population. CFA has been considered as the largest financial company in the Argentine financial system for that segment. On the other hand C&S provides collection service to CFA.
Galeno Capital intends to expand its business to the credit/banking market, incorporating an important portfolio of clients.
The advisors in the transaction were:
- Of Banco Galicia, CFA and C&S:
Estudio Beccar Varela
Partners Roberto H Crouzel, Tomás Allende and María Shakespear; senior
associate Eugenia Radaelli; and associates Paula Casaux Alsina, Luciana
Liefeldt and Milagros Quintana.
- Of Galeno Capital SAU and Julio Alfredo Fraomeni:
Ricardo Salazar Gauna and Deloitte.
- Of MBA Lazard:
Eduardo Obregozo and Maximiliano Volpato.
