Simpson Thacher on sale of Gerdau joint venture interest
Simpson Thacher has advised Gerdau in connection with the sale of its 49.85% interest in Gerdau Diaco and 50% interest in Gerdau Metaldom Corp. to Grupo Inicia.
The joint ventures operate industrial facilities dedicated to the production of long steel, mainly in Colombia and the Dominican Republic. The transaction is subject to regulatory approvals and customary closing conditions.
Gerdau is one of the leading producers of long steel in the Americas and one of the world’s leading suppliers of special steels. Grupo Inicia is a private asset management company with operations in Latin America, Gerdau’s current partner in these joint ventures.
Simpson Thacher’s team included partners Todd Crider (pictured left), Borja Marcos (pictured centre) and Ismael Durán (pictured right), and associates Marcelo Lorenzen and Susan Uquillas.
