Guerrero Olivos (Chile) assisted Telefónica Group in a major corporate restructuring process worth EUR3.5 billion. The restructuring was made to simplify the corporate structure, reduce costs and move forward to a more efficient business platform.
The first step included the merger of Telefónica Chile S.A. with its affiliate, Telefónica Larga Distancia S.A.; the second step included the division of another company of the group, Inversiones Telefónica Móviles Holding S.A., into two corporations, its legal successor and Inversiones Telefónica Móviles Holding S.A. and "Towerco Latam Chile Holding S.A.". Subsequently, Guerrero Olivos divided Telefónica Móviles Chile S.A., mobile telephone operator of the group, in its legal successor, Telefónica Móviles Chile S.A. and in Towerco Latam Chile S.A., to which several assets were transferred. Also, in September 2016 as part of the corporate restructuring process and to capitalize the group’s debts, Guerrero Olivos agreed to a debt restructure and a capital increase in one of the companies.
Guerrero Olivos also assisted Telefónica in the dissolution of a private investment fund and its managing company, liquidating the fund, and transferring assets and debts to its sole contributor.
