Gerdau to Sell Equity Interest in Colombian Subsidiary
04.10.17
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Simpson Thacher is representing Gerdau S.A. (“Gerdau”), a leading steel producer, in connection with the proposed sale to Putney Capital Management (“Putney”) of an approximately 50% equity interest in Diaco S.A., a subsidiary of Gerdau with operations in Colombia (“Diaco”), including the formation of venture arrangement for the operation of Diaco. Gerdau and Putney currently jointly own Gerdau-Metaldom in the Dominican Republic. Diaco produces and sells long steel products in Colombia and has annual installed steel production capacity of 674,000 tons.
The completion of the transaction is subject to the satisfaction of certain conditions.
The Simpson Thacher team includes Jaime Mercado, Borja Marcos, Pablo M. Richards and Luiz Rafael De Vargas Maluf.