M&A Deal Summary

Southern Cross Group Acquires Compania General de Combustibles SA

On June 1, 2003, private equity firm Southern Cross Group acquired oil/gas exploration company Compania General de Combustibles SA

Acquisition Highlights
  • This is Southern Cross Group’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Southern Cross Group’s 2nd transaction in Argentina.

M&A Deal Summary

Date 2003-06-01
Target Compania General de Combustibles SA
Sector Oil/Gas Exploration
Buyer(s) Southern Cross Group
Deal Type Buyout (LBO, MBO, MBI)

Target

Compania General de Combustibles SA

Vicente Lopez, Argentina
Compañía General de Combustibles ("CGC") is an oil and gas producer, with E&P operations in Argentina, Venezuela, and Ecuador. CGC also holds equity interests in Argentina's most important gas transportation pipelines, which connect Brazil and Chile. Prior to Southern Cross' acquisition, CGC was the most valuable subsidiary of Sociedad Comercial del Plata, a family-controlled and publicly-traded company in Argentina.

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Buyer(S) 1

DESCRIPTION

Southern Cross Group is a private equity firm that seeks investment opportunities in Latin and South America. Southern Cross only invests in control situations and does not focus on any specific industry. Southern Cross Group was formed in 1998 and is based in Greenwich, Connecticut with additional offices in Argentina, Chile, Mexico, and Brazil.


DEAL STATS #
Overall 4 of 30
Sector: Oil/Gas Exploration M&A 1 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 4 of 23
Country: Argentina M&A 2 of 4
Year: 2003 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-01-01 Empresas La Polar

Santiago, Chile

Empresas La Polar is a department store focuses on low-to-mid income consumers in Chile.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-07 Lesaka

Johannesburg, South Africa

Lesaka is a Fintech company that utilizes its proprietary banking and payment technologies to deliver superior financial services solutions to merchants (B2B) and consumers (B2C) in Southern Africa. The Company offers cash management solutions, growth capital, card acquiring, bill payment technologies and value-added services to retail merchants as well as banking, lending, and insurance solutions to consumers across Southern Africa. Lesaka was founded in 1997 and is based in Johannesburg, South Africa.

Buy $53M