Ashmore Group and Steve Dixon’s Acquisition of 87,59% Interest in Stracon GyM S.A.


Muñiz, Olaya, Meléndez, Castro, Ono & Herrera, Estudio Echecopar (Baker & McKenzie), Carrera & Pinatte, Rebaza, Alcázar & De Las Casas and Philippi Prietocarrizosa Ferrero DU & Uría advised on the deal

Ashmore Group and Steve Dixon, executed a contract, subject to meeting certain conditions precedent, to acquire 87.59% of the stock of STRACON GyM S.A., a leading company in the provision of construction and operations services to the mining industry in Latin America, which were owned by GyM S.A., through STRACON S.A.C.

In order to finance the deal, Stracon S.A.C. secured a $56 million financing from Scotiabank Perú S.A.A. and Banco de Crédito del Perú.

STRACON S.A.C. is a corporation held by Steve Dixon and the Ashmore Group, a global investment fund manager which is focused on emerging markets, is listed on the London Stock Exchange and manages approximately 70 billion dollars in assets. Through this transaction, STRACON GyM is no longer part of the Graña & Montero Group, Peruvian company with 84 years of experience in the construction, engineering and infrastructure industry. The Company will continue to provide integrated services for the construction and operation of open pit and underground mines in Latin America, currently undertaking projects in Peru, Colombia, Panama and Mexico. The Company will also seek to consolidate its diversification opportunities.

STRACON GyM is a leading company that provides mining services in Peru and Latin America, with more than 15 years in the market. Its services cover all the stages of a mining Project; from planning, development, construction and operation stages, to mine closure. With multiple projects successfully undertaken in the region, STRACON GyM has developed a sustainable business, based on providing efficient and innovative services, while maintaining the highest standards in safety, environmental and community relations.

Ashmore Group plc (LON: ASHM) is a world leader in emerging markets. Ashmore is headquartered in London and was founded in 1992 and currently manages capital of approximately 70 billion dollars (as of December 31, 2017) through a wide range of investments distributed in funds, segregated accounts and structured products. Ashmore has a platform dedicated to making long-term private investments throughout the entire capital structure in companies of the Andean Region.

Muñiz, Olaya, Meléndez, Castro, Ono & Herrera advised GyM S.A. with Mauricio Olaya, Juan Carlos Vélez, Ricardo de la Piedra and Wilfredo Cáceres.

Estudio Echecopar (Baker & McKenzie) advised Ashmore Group with Óscar Trelles (Picture), Liliana Espinosa, Rafael Picasso, Paolo Robilliard, Carla Figallo and Andrea Cáceres.

Carrera & Pinatte Abogados advised Steve Dixon with Germán Carrera, Luis Mejía, Silvia Ballester and Paolo Arbulú.

Rebaza, Alcázar & De Las Casas advised Scotiabank Perú S.A.A and Banco de Crédito del Perú with Rafael Alcázar, Juan José Cárdenas, José Jiménez, Camilo Maruy, Luis Miguel Elías, Cinthia Cánepa, Ricardo Cárdenas, Gonzalo Soriano, Diana Gárate, Lucía Ochoa, Andrea Rieckhof, Sebastián De La Puente and Martín La Rosa.

Involved fees earner: Luis Mejia Servan – Carrera & Pinatte Abogados; German Carrera Rey – Carrera & Pinatte Abogados; Mauricio Olaya Nohra – Muñiz, Olaya, Meléndez, Castro, Ono & Herrera; Juan Carlos Vélez Gadea – Muñiz, Olaya, Meléndez, Castro, Ono & Herrera; Ricardo de la Piedra – Muñiz, Olaya, Meléndez, Castro, Ono & Herrera; Wilfredo Cáceres Ghisilieri – Muñiz, Olaya, Meléndez, Castro, Ono & Herrera; Rafael Alcázar – Rebaza Alcazar & De Las Casas Abogados Financieros; Juan José Cárdenas – Rebaza Alcazar & De Las Casas Abogados Financieros; Cinthia Cánepa – Rebaza Alcazar & De Las Casas Abogados Financieros; Ricardo Cárdenas – Rebaza Alcazar & De Las Casas Abogados Financieros; Gonzalo Soriano – Rebaza Alcazar & De Las Casas Abogados Financieros; Andrea Rieckhof – Rebaza Alcazar & De Las Casas Abogados Financieros; Sebastian De La Puente – Rebaza Alcazar & De Las Casas Abogados Financieros; José Jiménez Chocano – Rebaza Alcazar & De Las Casas Abogados Financieros; Camilo Maruy – Rebaza Alcazar & De Las Casas Abogados Financieros; Luis Miguel Elías – Rebaza Alcazar & De Las Casas Abogados Financieros; Diana Gárate – Rebaza Alcazar & De Las Casas Abogados Financieros; Lucía Ochoa – Rebaza Alcazar & De Las Casas Abogados Financieros; Oscar Trelles de Belaunde – Baker McKenzie; Liliana Espinosa Reboa – Baker McKenzie; Paolo Robilliard D’Onofrio – Baker McKenzie; Carla Figallo Salgado – Baker McKenzie; Rafael Picasso – Baker McKenzie; Andrea Cáceres Paredes – Baker McKenzie;

Law Firms: Carrera & Pinatte Abogados; Muñiz, Olaya, Meléndez, Castro, Ono & Herrera; Rebaza Alcazar & De Las Casas Abogados Financieros; Baker McKenzie;

Clients: Banco de Crédito del Perú; Ashmore Group plc; Scotiabank Perù; GyM S.A.; Steve Dixon;

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Author: Ambrogio Visconti.