Argentine holding company turns its focus to more profitable businesses
Corporate & Sovereign StrategyM&AArgentinaLatin America
Argentine holding company Sociedad Comercial del Plata (SCP) said Friday that it has Parque de la Costa, an amusement park on the outskirts of Buenos Aires, to Fénix Entertainment Group in a deal that will earn it ARS119 million ($1.4 million).
SCP said it sold the park for ARS1 ($0.01) to Buenos Aires-based Fénix, which operates under the name Perfecta Producciones. As part of the deal, the buyer also will take on the park’s $12.5 million in debt, leaving SCP with no more liabilities in Parque