On March 15, 2012 Mead Johnson Nutrition Company, through its subsidiary MJN Global Holdings B.V., acquired 80% of the capital stock of an Argentine company named Mead Johnson Nutrition Argentina S.A. (formerly Nutrición para el Conosur S.A.), which became the owner of the "SanCor Bebe" brands. SanCor Cooperativas Unidas Limitada will keep the remaining 20% of the capital stock.
The transaction also involved supply, distribution and administrative services that shall continue to be provided by SanCor to the new joint venture to be developed by the parties.
Marval, O’Farrell & Mairal acted as legal counsel to Mead Johnson Nutrition Company. Alfredo M. O’Farrell and Pablo García Morillo, and associates Bárbara V. Ramperti, María Laura Bolatti Cristofaro, Gonzalo Marquez Alonso de la Barcena among others were in charge of the M&A matters; partners Ricardo Ostrower and Rodrigo F. García and with associates Martín J. Mosteirin, Fernando M. Alemany, among others, were in charge of the ancillary operating agreements regarding the joint venture.
SanCor Cooperativas Unidas Limitada was represented by Nicholson & Cano through a team led by partners Alberto Zavalía Lagos, María Fraguas, Mariana Rawson Paz and Miguel Blaquier.
The transaction is subject to the approval of the Argentine Antitrust Commission ("Comisión Nacional de Defensa de la Competencia").