Projects & Mandates
Significant past "done" deals/mandates in which MACh participated are outlined below.
Sell-Side Advisory Experience
Buy-Side Advisory Experience
General Advisory Experience
(Valuations, Project Development & Assessment, Review of Alternatives, Capital Structure Studies, etc.)
Capital Markets Issue Experience
Significant past "done" deals/mandates in which MACh participated are outlined below.
Sell-Side Advisory Experience
- Sale of a controlling interest by Bunge International in Molinos Río de la Plata SA (Argentina´s largest consumer food company -
also involved in agribusiness) to IRHE (a Perez Companc Family holding), for the transfer of control of assets valued at approximately
US$ 1.0 billion.
- Sale of a controlling interests by Bunge International (and subsidiaries) in Atanor SA (an important Argentina generic agrochemical
producer) to DA International, for the transfer of control of assets valued, at the time, at approximately US$ 120 million.
- Sale of a multinational´s jams and canned packaging business to an Argentine company.
- Sale of a controlling interest by Bunge International in Petroquímica Río Tercero SA (Argentina´s principal toluene-di-ysocianate
TDI producer) to Piero SA , for approximately US$ 50 million.
- Sale of quasi-equity and options in Alpargatas SA (Argentina´s leading footwear and textile company) through an innovative
convertible-debt/hybrid market issue, backed by a stand-by underwrting agreement provided by Newbridge Latin America, US$ 80
million.
- Joint-sale of the controlling interests of Petroquímica Bahía Blanca SA (Argentina´s principal ethane cracker) and satellite
companies absorbed under the Indupa SA umbrella (the country's principal Chlor -Alkali, VCM-E, VCM-A, PVC, and Polyethylene
complex) by the Argentine Government to a consortium led by Dow Chemical, YPF SA and Itochu, for an enterprise value "dirtily"
estimated at approximately US$ 1.5 billion.
- Sale of the control by Bunge International (and subsidiary´s interests) in La Fabril SA (Peru´s largest consumer food and a large
personal care company - involved in the oil-fish crushing / processing businesses) to Grupo Romero (now merged with other
enterprises and known as Alicorp SA), for approximately US$ 215 million.
- Sale through an MBO of Peru´s Nettalco, a cotton yarn clothing business in a US$ 9 million operation.
- Sale of Trutex, Perú´s leading high-ring spinner of Pima cotton yarns, also possessing cotton a gin) to Compañía Cervezera de Perú,
for approximately US$ 14 million.
- Sale of a 50% interest in Petroquímica Gereral Mosconi by the Argentine Government to YPF SA for an estimated value of
approximately US$ 100 million.
- Sale of a 51% interest in the EDESUR electricity distribution company concession (constituted by the Southern ex-SEGBA assets), by
the Argentine Government to a consortium led by Perez Companc and Endesa (Chile) for US$ 580 million (in cash and tendered
Government debt).
- Sale of a 51% interest in the EDENOR electricity distribution company concession (constituted by the Northern ex-SEGBA assets), by
the Argentine Government to a consortium led by Electricité de France and Endesa (Spain) for US$ 470 million (in cash and
tendered Government debt).
Buy-Side Advisory Experience
- Purchase of La Arrocera Argentina´s Gallo business and brand by Química Estrella SA, a consumer food and personal care
company, for US$ 38 million, with the support of the acquiring company´s private equity shareholders.
- Purchase of Cargill SACI´s Argentine Food Division - the Granja del Sol business - Argentina´s premier frozen and chilled food
company, by Molinos Río de la Plata SA for US$ 61 million
- Principal purchase by Banco General de Negocios of Nuevo Banco de Santa Fé for US$ 57 million, supported by capital infusions
into BGN by its shareholders.
General Advisory Experience
(Valuations, Project Development & Assessment, Review of Alternatives, Capital Structure Studies, etc.)
- Over the years, MACh formed part of teams providing financial advisory services to the following entities on diverse intitatives:
Acindar, Alpargatas, Banco Hiptecario, Bunge & Born, Bunge International, Cencosud, Centro Costa Salguero, Cosetel, Cubecorp,
Ferrocons, Glencore Cereales, IRSA, Kraft International, Molinos Río de la Plata, Química Estrella, Republic of Argentina (ministries
of Defense and Economy), Tarshop, TASA Logística, Techint Organization, and WilTel, amongst others.
- Of these, MACh can speak to his work for Cubecorp (since sold to Telecom) on market dimensioning exercises, competitor mapping,
and the technical-económic-financial modelling for its consultancy on two international green-field data center projects, each
demanding US$ 80 million in investments.
Capital Markets Issue Experience
- Placement of $1.8 million of structured notes (with a revolving future flow guarantee trust) under Argentina´s ON PyME modality, the
first of such issue after the 2002 crisis.
- Private placement of $700 thousand of structured noted (with revolving future flow guarantee structure) for TASA Logística, a firm first.
- Placement of the Argentine Government´s sale of its residual interest in Camuzzi Gas Pampeana (a gas distribution company), a
Secondary Equity IPO Offering of 20% of the company´s shares, which generated proceeds of US$ 73 million.
- Placement of face value US$ 80 million of Mandatorily Convertible Bonds (deferred equity) with Payment-in-Kind (PIK) and Warrants
issued by Alpargatas SAIC in Argentina´s local markets, backed by a stand-by underwriting agreement provided by Newbridge Latin
America.
- Arrangement of a multi-bank syndicated loan, involving renegotiations and roll-overs of outstanding indebtedness, for an amount of
nearly US$ 40 million.
- Assistance to the CSFB execution team in its Global equity IPO of Banco Hipotecario Nacional (with warrants and conrol interests)
for US$305 million.
- BHN I Mortgage Fund: The country´s first issue of trust certificates of indebtedness and participation under Argentina´s then newly
passed Law 24.441, for approximately US$ 100 million.
- Assistance to the CSFB execution team in establishing "The Argentina Fund, Inc.", the first country fund quoted on the New York
Stock Exchange.
