Simpson Thacher is representing Inversiones Alxar S.A., a subsidiary of Empresas Copec S.A. (“Empresas Copec”), in connection with its acquisition of 40% of Cumbres Andinas S.A.C. (“Cumbres Andinas”), a subsidiary of Peruvian conglomerate Grupo Breca. Grupo Breca, indirectly through its mining subsidiary Minsur S.A., will retain a 60% stake in Cumbres Andinas. Cumbres Andinas owns Marcobre S.A.C., which, in turn, owns the Mina Justa copper mining project located in Ica, Peru. The transaction is subject to customary closing conditions including regulatory approvals.
Headquartered in Chile, Empresas Copec is a diversified industrial holding company that is engaged in several industries, including fuels, forestry and fishing.
The Simpson Thacher team for the transaction includes David Williams, Juan M. Naveira, Karen McClendon, Erika Tang and Santiago Balbi (M&A); Jasmine Hay (Tax); Marcela Robledo (IP); and Ellen Frye (Antitrust).