Bruchou & Funes de Rioja advised ECOGAS Inversiones S.A. in its Initial Public Offering (IPO) of Shares through a Voluntary Exchange of Shares of Distribuidora de Gas Cuyana S.A. and Distribuidora de Gas del Centro S.A.

Bruchou & Funes de Rioja advised on the Initial Public Offering (IPO) of ECOGAS Inversiones S.A. (“ECOGAS”) through the public offer for subscription of shares in kind and voluntary exchange addressed to (i) all shareholders holding Class “B” common shares of Distribuidora de Gas del Centro S. A. (“DGCe”), and (ii) all shareholders holding Class “B” and “C” common shares of Distribuidora de Gas Cuyana S.A. (“DGCu”), (“DGCu”). A. (“DGCe”), and (ii) all shareholders holding Class “B” and “C” common shares of Distribuidora de Gas Cuyana S.A. (“DGCu”) to be exchanged for new Class D common shares of ECOGAS.

The transaction is the first IPO paid for in kind through the delivery in exchange of shares of two companies admitted to the public offering regime (DGCu and DGCe).

As a result of the Exchange Offer, ECOGAS (by aggregating its holdings of Class “A” and Class “B” shares of DGCu) will own 93.10% of the total capital stock of DGCu; while, by aggregating its holdings of Class “A” and Class “B” shares of DGCe, it will own 81.64% of the total capital stock of DGCe.

Banco de Valores S.A., Puente Hnos. S.A. and Balanz Capital Valores S.A.U., participated as Organizing Agents of the Exchange Offer. In turn, Caja de Valores S.A. acted as Exchange Agent.

Bruchou & Funes de Rioja was the only law firm advising on the transaction.