Bruchou & Funes de Rioja | View firm profile
On February 19, 2025, Open Cars Group entered into a share purchase agreement to acquire 100% of the share capital and voting rights of Mercedes Benz Argentina S.A.U. (now Prestige Auto S.A.U.) from Mercedes-Benz Group, which was completed on June 17, 2025. The transaction includes the indirect acquisition of a controlling interest in Círculo Cerrado S.A. de Ahorro para Fines Determinados, a local vehicle savings plan company.
The transaction covers the production of vans in Argentina, the wholesale distribution of both locally produced vans and imported cars in Argentina, and operation on an after-sales business in the national market.
This transaction strengthens the efficiency of the automotive sector and positions the parties as key players in the modernization and growth of the industry in Argentina, as it marks a significant step in the strategic realignment of the Mercedes-Benz Group’s operations in Argentina. Following the closing of the transaction, MBA will continue to operate as an independent entity under its new corporate name, Prestige Auto S.A.U.
Bruchou & Funes de Rioja advised Open Cars Group, including Daniel Herrero (former CEO of Toyota Argentina), Alfonso Prat-Gay and Santiago Palay, with a team led by partner Santiago Balbi, senior associates Agustina Rocca and Federico Vicente, and associates Delfina Nécol, Santiago Cleti, and Josefina De la Torre (General Corporate and M&A), and partner Gabriel Lozano (Competition and Antitrust).
Allende & Brea advised Mercedes-Benz Group, with a team led by partner Valeriano Guevara Lynch, senior associate Nicole Dillon, and associates Micaela Zárate and Micaela Kim (General Corporate and M&A).