Family takes controlling stake in Peru’s Hayduk

Published 18 September 2009

Peru’s Estudio Osterling and Lazo, De Romaña & Gagliuffi Abogados have helped the main shareholder of Hayduk, a leader in the country's fishing industry, take a controlling position in the company.

The Martínez family purchased new shares in Hayduk worth US$16 million to increase its stake from 58 to 60 per cent, the minimum required to control the company under Peruvian law.

Payet Rey Cauvi Abogados and Lourdes Flores Nano Abogados advised Hayduk's other shareholder, the Baraka family, in the deal, which closed on 31 August. The Baraka family's holding has dropped from 42 to 40 per cent.

"The capital increase was a condition to Hayduk's restructuring negotiations with a Peruvian banking syndicate," says Osterling partner Alfonso Rebaza. "It will allow Hayduk to implement expansion plans in the Peruvian fishing market as well as upgrade its financial status in the banking system."

The deal also included a modification of Hayduk's by-laws, giving greater rights to the Baraka family.

Counsel to the Martínez family

Estudio Osterling
Partners Felipe Osterling, Enrique Ferrando and Alfonso
Rebaza and associate Santiago Verdera
Lazo, De Romaña & Gagliuffi Abogados
Partner Jorge Lazo

Counsel to the Baraka family

Payet Rey Cauvi Abogados
Partners José Antonio Payet and Daniel Abramovich
Lourdes Flores Nano Abogados
Partner Lourdes Flores Nano

Counsel to Pesquera Hayduk

In-house counsel - Pablo Nieto Passano
Copyright © Osterling Abogados 2015