ZBV advised Argentine real estate company IRSA Inversiones y Representaciones (?IRSA?) in the sale of a series of block trade transactions of about 10 million shares of common stock of Hersha Hospitality Trust (?Hersha?), a company listed on the New York Stock Exchange, pursuant to Rule 144 under the Securities Act of 1933, as amended, for an aggregate amount of approximately US$54 million.
This transaction, which included due diligence, and the customary transaction documents were drawn by ZBV.
Back in August 2009 ZBV has advised IRSA in the investment agreements with Hersha, upon which IRSA had become the largest shareholder of Hersha, with a board seat, preemptive rights and a stock option, among other rights.
ZBV acted as IRSA