Atlantico Capital advised Teyma Uruguay in the sale of a Concession project
Global private equity firm Aberdeen Standard Investments has purchased a private-public penitentiary project in Uruguay from Teyma Uruguay. It is the first time a PPP has been sold in the country.
The project, to build and manage a model penitentiary complex, was awarded by the Uruguayan government in 2015 to a consortium led by Teyma Uruguay (85%) and Goddard Catering Group (15%).
The contract entailed the construction and operation of the facility, as well as providing the food supply to inmates as was structured with availability payments.
The sale of the project to Aberdeen Standard was partially financed by bonds issued by the company on the BEVSA securities exchange. The acquisition is currently subject to approval by the bondholders and Uruguay’s Ministry of the Interior.
Atlantico Capital Partners acted as exclusive financial advisor to Teyma Uruguay with Olivera Abogados acting as legal counsel. Aberdeen Standard Investments was advised by law firm Ferrere Abogados. Goddard Catering Group Uruguay was advised by law firm Lexin’s Agustín Amonte.
