Ecuador: FERRERE Advised The Bosques Del Uruguay 3 Financial Trust
Last Updated: 10 May 2017

FERRERE advised the Fideicomiso Financiero Bosques del Uruguay 3 trust on the transfer of 47,300 hectares of land – part forested and part suitable for forestry – in the Departments of Cerro Largo, Florida, Rocha, Treinta y Tres, Lavalleja and Florida in Uruguay, for forestation projects.

In this case the amount of the transaction was USD 172 million, and the seller was Global Forest Partners LP.

The property had originally been acquired by Global Forest Partners (advised at the time by FERRERE). For the acquisition of this forest land FERRERE established a real estate investment trust for a total amount of USD190 million, which was authorized as owner by the Executive Branch.

"For this deal, the team had to work in record time to obtain Executive Branch authorization (which is necessary for companies investing in forestry and agricultural businesses), as well as to close the transaction within the agreed timeframes," commented FERRERE senior associate Carlos Falco.

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