A Squire Patton Boggs team has played a significant role in AmBev’s, the biggest brewery in Latin America and the fifth in the world, increase in its majority stake of Tenedora CND for US$927 million. Tenedora CND is a Dominican holding company that controls Cervecería Nacional Dominicana (CND), the largest brewery unit in the Caribbean.

The firm advised E. León Jimenes, one of the Dominican Republic’s highest-grossing companies, in the sale of a 30% share interest in Tenedora CND. Once the deal is closed, expected to be in Q1 2018, AmBev will own 85% of Tenedora, with E. León Jimenes controlling the remaining 15%. The deal extends the strategic alliance between E. León Jimenes and AmBev until 2022, three years longer than originally agreed.

The Squire Patton Boggs Santo Domingo team serving as co-counsel to E León Jimenes included partners Awilda Alcántara-Bourdier and Alejandro Peña-Prieto and associate George Spence.