Ragusa Capital plc

Nexia Smith & Williamson recently acted as reporting accountant for Ragusa Capital plc on the acquisition of a number of assets in Argentina.

Following the initial acquisition of a regional electricity distributor and oil and gas assets, Ragusa changed its name to Andes Energia plc. The value of the initial consideration for the assets was US$ 72.5 million and the company also raised approximately £6.5 million (before expenses) through a placing.

Nexia Smith & Williamson were greatly assisted by Estudio Giordano & Asociados the Nexia International firm based in Buenos Aires.

Following the initial placing, Nexia Smith & Williamson and its associates also acted in connection with the acquisition of a hydro-electric plant by the Andes Energia, again located in Argentina.

Andrew Bond led the UK team which included Neil Fung-On, Adrian Walton, Rajesh Sharma, Mark Thomas, Mark Eade, Catherine Waller, Oz Aziz, and Daisy Meakin. Graciela Valles led the Argentine team.

Nexia Smith & Williamson acted on the initial AIM float of Ragusa Capital in 2004 as a £5 million cash shell and continue to act as auditor to the enlarged group, which at the time of writing has a market capital of £135 million.

For further information, contact:
Andrew Bond is an assurance & business director
tel: 020 7131 4138
Email Andrew

Press office
Kate Harrison, tel: 020 7131 4228
Alison Hayman, tel: 020 7131 4138

Disclaimer

By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of writing.

Note to editors

Smith & Williamson is an independent professional and financial services group employing over 1,300 people. The group is a leading provider of investment management, financial advisory and accountancy services to private clients, professional practices and mid-to-large corporates. The group operates from offices in London, Belfast, Bristol, Glasgow, Guildford, Maidstone, Salisbury, Southampton and Worcester.

Smith & Williamson Limited
Regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities. A member of Nexia International, a worldwide network of independent accounting firms.

Nexia Smith & Williamson Audit Limited
Registered to carry on audit work and regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities. A member of Nexia International.

Smith & Williamson Corporate Finance Limited
A member of M&A International Inc. Authorised and regulated by the Financial Services Authority.