Affinitas’ member firms Barros & Errázuriz and Miranda & Amado advised Grupo Gloria on the acquisition of the shares of Cementos Bío-Bío. With this cross-border investment, carried out through its Chilean subsidiary Yura Chile SpA, Grupo Gloria is gaining a foothold in the Chilean cement market.
Investment firm Picton advised on the transaction, in which Grupo Gloria acquired the 19.05% participation of Inversiones ALB (grouping the interests of family members of the founders of the company), valued at US$ 45 million.
Partners Pablo Guerrero and Bernardo Simian and associates Francisco Bórquez and José Miguel Poblete from Chile, and partner José Daniel Amado from Peru advised Grupo Gloria. Inversiones ALB was represented by Bofill Mir & Álvarez Jana Abogados.
The Gloria Group is an industrial conglomerate of Peruvian capital with businesses in Peru, as well as in Bolivia, Colombia, Ecuador, Argentina and Puerto Rico. Its activities are carried out in the dairy and food sectors, in cement, paper, agro-industry, transport and services.
Cementos Bío Bío is one of the largest cement producer in Chile, producing and commercializing building materials for construction and mining projects. Based in Concepción, and founded in 1957, its operations are focused on cement and ceramics.
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