Dominican firms team up for baseball deal
Latin Lawyer (2009)
Five Dominican law firms have helped bring a new set of shareholders to one of the country’s most famous baseball teams, Leones Del Escogido. Local agribusiness and media conglomerate Sociedad Industrial Dominicana (SID) retained Headrick Rizik Alvarez & Fernández in its purchase of the largest share in the baseball club from businessman Julio Hazim, represented by Pichardo Baba & Asociados.
Among the other buyers, car and personal care products distributor Grupo Najri retained Veras, Cabrera, Díaz Consultoría, while sugar producer Vicini used Oficina Melo Guerrero. Businessman Luis Manuel Bonetti, the club’s new president, took counsel from J Pérez Gómez & Asociados.
The deal, which closed at the end of last month, sees the buyers acquire a majority stake in the baseball club as well as advertising rights for the team, which was founded in 1921. The value of the deal was not disclosed.
Published 29 September 2009View PDF