Automotores Gildemeister in Acquisition of Fonedar

Cleary Gottlieb represented Automotores Gildemeister S.A. in its acquisition of the total outstanding shares of Fonedar S.A. and its wholly-owned subsidiaries Camur S.A., Lodinem S.A. and Motor Haus S.A. from Gildemeister’s affiliate Minvest S.A. As a result of the transaction, Fonedar and its subsidiaries became Guarantors of Gildemeister’s 8.250% Senior Notes due 2021. The transaction closed on May 16, 2014.

Founded in 1986, Gildemeister is one of the largest vehicle importers and distributors in Chile and Peru, with over $1 billion in annual revenues. With the acquisition of Fonedar, Gildemeister added to its portfolio the BMW, Mini, Mahindra, Haima, Zotye and Yuejin brands in Uruguay.