DLJ South American Partners in Sale of its Interest in Cameo Chile
October 03, 2011
Cleary Gottlieb represented DLJ South American Partners, L.P. in the sale of its 50% indirect interest in Cameo Chile S.A. to Multi-Color Corporation. The purchase agreement was signed on August 26 and the transaction closed on October 3.
DLJ South American Partners transferred its ownership interests in CM Holdings (the holding company of Cameo Chile) to a subsidiary of Multi-Color for an agreed cash payment, less 50% of the net indebtedness of CM Holdings as of the date of closing, which cash payment will be made to DLJ South American Partners on April 2, 2012. The purchase price is subject to a post-closing adjustment and an indemnity escrow.
DLJ South American Partners is a private equity fund that focuses on growth equity investments in Latin America, principally Argentina, Brazil and Chile.
CM Holdings is a joint venture between DLJ South American Partners and Diamond Castle Partners (another private equity fund) and is the holding company for Cameo Chile S.A., a large Chilean manufacturer of labels for wine and spirits.