Gerdau to Sell Stake in Colombia and Dominican Republic Joint Ventures for US$325 Million
01.22.24
This is only gets display when printing
The Firm is representing Gerdau S.A. (B3: GGBR / NYSE: GGB) in connection with the sale of its 49.85% stake in Gerdau Diaco S.A. and its 50% stake in Gerdau Metaldom Corp. The joint ventures operate industrial facilities dedicated to long steel production, primarily in Colombia and the Dominican Republic. The transaction is subject to regulatory clearances and customary closing conditions.
Gerdau is one of the leading producers of long steel in the Americas and one of the leading suppliers of special steel in the world. The buyer is the Inicia Group (a private asset management firm with operations in Latin America), Gerdau’s current partner in those joint ventures.
The Simpson Thacher team for the transaction included Todd Crider, Borja Marcos, Marcelo Lorenzen and Susan Uquillas (M&A); and Ismael Durán (Banking and Credit).