Private investment for L Catterton worth US$200million
14 September 2020
Mourant BVI has advised private equity firm, and long standing client, L Catterton in its investment in one of Latin America's leading online travel firms, Despegar (NYSE: DESP), to assist with Despegar's liquidity levels during the current global crisis for the travel industry, caused by the COVID-19 pandemic.
Despegar raised US$200million across two separate share financings, with L Catterton investing US$150million (plus warrants to purchase ordinary shares), adding the travel firm to its portfolio of investments, which includes leading brands across all segments of the consumer industry.
Acting as BVI counsel, the Mourant team was Senior Associate Marianne Wilson and Associate Martyn Heyes working with Partner Rachael McDonald.
Rachael McDonald said: "This is an important transaction for the travel industry. It has been great working with all the parties involved to ensure protection of Despegar against current and future threats."
The Mourant BVI team worked with Proskauer, New York, acting as onshore counsel representing L Catterton.