Larrain y Asociados, Baker & McKenzie, FerradaNehme, Cariola, Díez, Pérez-Cotapos and Guerrero Olivos advised on the deal
LafargeHolcim announces it has signed an agreement with Inversiones Caburga Limitada, a company of the Hurtado Vicuña Group, for the divestment of its 54.3 percent interest in Cemento Polpaico in Chile for an enterprise value of approximately CHF 220 million (on a 100 per cent basis). The transaction will be executed by way of a public tender offer by Inversiones Caburga Limitada to all shareholders of Cemento Polpaico.
Cemento Polpaico operates one integrated plant and two grinding plants with an annual cement capacity of 2.3 million tonnes. The company is also a leading ready-mix concrete producer operating 25 plants and produces aggregates. The launch of the public tender offer is subject to the approval of the Chilean competition authorities which is expected for the first half of 2017. Following the successful completion LafargeHolcim would exit Chile completely.
LafargeHolcim has exceeded its divestment target of CHF 3.5 billion for 2016. The Group announced in August that it would be extending the program to CHF 5 billion which it expects to complete by the end of 2017.
Larrain y Asociados advised Hurtado Vicuña with Jorge Granic (Picture), Arturo Bulnes, Cristian Araya, José Spoerer, José Pedro Ruiz and César Rivas.
Baker & McKenzie advised LafargeHolcim with Timothy Gee, Jaime Munro and Cristóbal Larrain.
FerradaNehme advised LafargeHolcim with Sander Van der Voorde, Diego Pardow, Raffaela Corte, Mauricio Garetto and Daniel Moris.
Cariola, Díez, Pérez-Cotapos advised Cemento Polpaico with Gerardo Varela and Juan Cristóbal Gumucio.
Guerrero Olivos advised Banco del Estado de Chile and Banco Bilbao Vizcaya Argentaria (creditors of Gamma Cementos, S.A.) with Miguel Coddou.
Involved fees earner: Sander van der Voorde – FerradaNehme; Raffaela Corte – FerradaNehme; Daniel Moris – FerradaNehme; Diego Pardow – FerradaNehme; Mauricio Garetto – FerradaNehme; Jorge Granic L. – Larraín y Asociados; Arturo Bulnes – Larraín y Asociados; Cristian Araya – Larraín y Asociados; José Spoerer – Larraín y Asociados; José Pedro Ruiz – Larraín y Asociados; César Rivas B. – Larraín y Asociados; Gerardo Varela – Cariola, Díez, Pérez-Cotapos & Cía Ltda; Juan Cristóbal Gumucio – Cariola, Díez, Pérez-Cotapos & Cía Ltda; Miguel Coddou Astrain – Guerrero Olivos; Timothy Gee – Baker & McKenzie; Jaime Munro – Baker & McKenzie;