Baker McKenzie and Basham, Ringe y Correa have advised on the deal.
PPG (NYSE:PPG) has reached a definitive agreement to sell the assets of its Mexico-based Plaka plasterboard and cement-board business to Knauf International GmbH. The transaction is expected to close in the first half of 2017, subject to regulatory approvals and other customary closing conditions. Financial terms were not disclosed.
PPG acquired the Plaka business in 2014 as part of its acquisition of Comex, S.A. de C.V. Plaka, with approximate sales of $30 million in 2015, manufactures plasterboard, cement board and drywall primarily for the Mexican construction market. The business employs about 200 people and operates a manufacturing facility in Querétaro, Mexico.
Baker McKenzie has advised Knauf International Gmbh on the transaction with a team including Fernando Godard Pérez (Picture) and Alejandro Sepúlveda.
Basham, Ringe y Correa S.C. has advised PPG Industries, Inc. with Jesús Colunga and Juan José López de Silanes.
Involved fees earner: Jesus Manuel Colunga Victoria – Basham, Ringe y Correa; Juan José López de Silanes Molina – Basham, Ringe y Correa; Fernando Godard Pérez – Baker & McKenzie; Alejandro Sepúlveda de la Fuente – Baker & McKenzie;