FERRERE participated in the collateral structuring of a debt swap of unsecured notes issued by the Chilean car dealer Automotores Gildemeister SpA, for new notes guaranteed by certain direct and indirect subsidiaries of the Issuer, some of which are Uruguayan (Fonedar, Automotores Motor Haus, Camur and Lodinem) as well as real estate and other assets.

As such, Uruguayan Guarantors constituted a Collateral Trust where certain assets were transferred as collateral to the new notes.

Automotores Gildemeister holds the concession to import and sell Hyundai vehicles in Chile and Peru, and controls the aforementioned Uruguayan subsidiaries which, among others, import and sell BMW and Mini vehicles.