Uruguayan firm Hughes & Hughes has helped Brazilian department store Lojas Renner enter Uruguay through a tie-up with local counterpart Punta Carretas.
Punta Carretas hired Olivera Abogados for the deal, which will see the companies team up to open two department stores in Uruguay next year.
The deal, which closed on 9 May, marks Renner’s first foray outside the Brazilian market. The company chose Uruguay to expand because of the country’s high GDP per capita ratio, as well as its proximity to one of Renner’s distribution centres in Porto Alegre, Brazil.
Counsel to Lojas Renner
Hughes & Hughes
Partner Hector Ferreira and associates Antonella Toma, Mercedes Barros and Patricia Villalba
Counsel to Punta Carretas Shopping Center
Olivera Abogados
Partner Ricardo Olivera García and associates Andrés Hessdörfer and Maria Concepción Olivera
Source: Latin Lawyer
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