Publicidad Sarmiento

repaid

Project Description: Publicidad Sarmiento S.A. (PS) is an Argentine company with a track record of more than fifty years in the outdoor advertising market. The Publicidad Sarmiento project entails expanding PS's operations in Argentina and starting up and expanding the operations of its Chilean affiliate, Grupo Sarmiento S.A.(GSSA). In public bidding, GSSA has won concession contracts from the Ilustre Municipalidad de Santiago (the Santiago district) and the Ilustre Municipalidad de Vitacura (the Vitacura district) to provide urban fixtures for them. The project also entails investing in information systems and purchasing 47.9% of the shares of GSSA.IIC's role in the proposed transaction is important for the following reasons:By granting long-term financing on reasonable terms, the IIC will enable a Latin American corporation to compete internationally with non-Latin American companies that have access to long-term financing on terms that are more favorable than those that are available on the local market.By developing outdoor advertising venues and mainly the development of projects of urban fixtures, and especially by contracting through municipalities, municipal governments obtain new resources from hitherto nonexistent sources. This enables them to reduce their financial deficits and finance works for the community. Also, communities thus acquire urban fixtures that are not only attractive but also have functional value for their inhabitants.The project will also have a positive impact by creating jobs, both directly and indirectly.