O’Neal Webster acted as British Virgin Islands counsel to Masplay, S.A. and its wholly owned subsidiary Equinox Los Andes SPA on its multimillion-dollar acquisition of Nike de Chile Ltda.
Masplay is the leading Andean region marketer and distributor of athletic footwear, apparel, and equipment for a wide variety of sports and fitness activities, including the exclusive distribution of Nike in Peru, Ecuador, Bolivia, and now Chile.
The transaction, which closed on August 17, 2022, was led by O’Neal Webster partners Vanessa King and Christopher Simpson, working alongside the Ecuadorian law firm of Pérez Bustamante & Ponce.
The transaction had the support of Gramercy Funds Management, Banco Santander Peru, Banco de Crédito e Inversiones (BCI), and BTG Pactual. Lazard and Banco Santander acted as advisors.
The success of Masplay’s transaction adds to O’Neal Webster’s reputation as an advisor and legal partner to multinational entities in their significant cross border transactions involving the BVI.