Successful delisting offer by La Pampilla oil refinery from Lima Stock Exchange

Cuatrecasas has advised Repsol Perú B.V. and Refinería La Pampilla S.A.A. ("RELAPASAA") on a delisting offer from the Lima Stock Exchange, launched by Repsol Perú B.V. as RELAPASAA's majority shareholder.

With the settlement of the delisting offer, RELAPASAA has managed to reduce its fragmented shareholding through a transparent and regulated public offering that protects minority shareholder rights and includes an independent valuation.

This transaction also revitalizes the Peruvian stock exchange because: (i) it has given some movement to a market that had been affected by uncertainty due to different economic, political and social factors, and (ii) non-institutional shareholders have monetized their investments into a determined value by an independent valuer, generating cash flow and depth to the movement of the listed shares.

A multidisciplinary team from Cuatrecasas and led by Oscar Trelles and Kiomi Osorio participated in the advisory services.