Argentina: Central Puerto S.A. Acquisition of Harvard University’s Forestry Business in Argentina

Published on May 11, 2023

Bruchou & Funes de Rioja acted as legal advisor to Central Puerto (“CEPU”) in the acquisition of Empresas Verdes Argentina S.A., Las Misiones S.A. and Estancia Celina S.A. by Proener S.A.U., a wholly owned subsidiary of CEPU. The operation includes the acquisition of 88.063 hectares of forestry real estate in the province of Corrientes, of which approximately 26,000 hectares are planted with pine out of a total plantable of approximately 36,000 hectares.

CEPU, a public company listed in Bolsas y Mercados Argentinos S.A. (BYMA) and the New York Stock Exchange (NYSE), is one of the major power generators in Argentina. Due to the previous acquisition of Masisa’s forestry assets in Argentina in December 2022, Central Puerto becomes one of the leading Argentinean companies in the forestry sector.

Harvard Management Company is an investment fund managed by Harvard University, with investments in different parts of the world.

Bruchou & Funes de Rioja advised CEPU through an interdisciplinary team of professionals led by M&A team members: Partner Mariano Luchetti and associates Nicolás Dulce, Macarena Rolon, Delfina Necol and Manuela Bobrowski with the support of partner Pablo Muir and associate Atenas Caramuto, Tax, and associates Ezequiel Castello and Carolina de Felipe, Corporate Governance.

CEPU was also assisted by Brown and Rudnick (Boston, MA), through its partner Alejandro D. Fiuza.

In-house consulting was granted by Adrián Salvatore, José Manuel Pazos and María Justina Richards.