After many months of due diligence, negotiations and drafting of agreements, Shell and Grupo Terra, a Honduran conglomerate, were able to successfully close the acquisition, which includes Shell�s downstream operations in the four jurisdictions, such as gas stations and distribution and sale of fuel and related products.

This acquisition is one of the most relevant and important deals of this nature in Central America. It required the coordination and joint collaboration of legal counsel in all four jurisdictions in addition to U.S. attorneys and in-house counsel. For those who have ventured in such a transaction, know that this is no easy feat. However, notwithstanding the various issues that arose in this long journey and different laws governing each country operation and transfer to the buyer, the parties were able to conclude one of the most successful regional acquisition deal in recent years.

Legal counsel to Shell:

In-house counsel:
Lori Muratta and Cesar Arreaza (Houston)

United States:
Haynes and Boone, LLP
Ricardo Garc�a-Moreno, Karim Shehadeh and Jennifer Brand (Houston)
Alberto de la Pe�a (Dallas)
Patricia Mastropierro and Maria Emilia Miquel (Mexico City)

Guatemala, El Salvador, Honduras and Nicaragua:
Consortium � Centro Am�rica Abogados
Alejandro Cofi�o Rodr�guez, Kristine Klanderud and Maria Cristina Beltranena (Guatemala)
Ricardo Cevallos and Diego Mart�n (El Salvador)
Oscar Manzanares, Jos� Rafael Rivera, Jorge Brizuela and Elly de Membre�o (Honduras)
Jos� Evenor Taboada and Magda Blandino (Nicaragua)

Legal counsel to Grupo Terra:

United States:
Jorge Alers � sole practitioner

Regional counsel:
Bufete Melara & Asociados
Oscar Armando Melara Facuss�

[1] El Salvador acquisition is subject to government antitrust approval.

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