BBVA has provided advisory services for Sugalidal in the arrangement of a syndicated loan to strengthen the working capital of Sugal Chile.

Chilean banks, Banco Consorcio and Banco Penta, are also taking part of the operation.

The loan has been arranged following the Suglidal Group's acquisition of the tomato and fruit processing assets of Tres Montes Luccheti Agroindustrial in 2012.

This acquisition has made the company owned by the Ortigão Costa family the second largest producer of tomato concentrate in the world, with processing capacity of over 1,150 million tonnes, and one of the two leading global producers of peach, apple and pear pulp.

With factories almost exclusively dedicated to exports in Portugal, Spain and Chile the Sugalidal Group has gained a unique strategic advantage compared to its competitors by being the sole sector operator with processing capacity in two hemispheres at different stages of the annual cycle.

Both teams, Retail Banking at BBVA Portugal and the experts of syndicated lending at BBVA Corporate & Investment Banking, have been involved in this deal.

BBVA is a global financing group with operations in 32 countries. The bank holds a sound position in Spain and Portugal, it is the first ranking financial entity in Mexico and has leading banks in South America and the US sunbelt. BBVA has helped Portuguese groups to expand their businesses in all these regions.