20 August, 2018 Peru

Peru’s largest steel product maker launches tender to buy counterpart

Corporate / M&A

Payet, Rey, Cauvi, Pérez Abogados has helped steel product producer and distributor Corporacion Aceros Arequipa launch a US$25 million takeover bid for the remaining shares it does not own in local counterpart Comasa.

Comasa relied on Philippi Prietocarrizosa Ferrero DU & Uría (Peru) for the deal. The takeover bid, launched on 2 August, will expire on 31 August.

Corporacion Aceros Arequipa already owns 33.65% of the target company and would wholly own Comasa if its bid was successful.

Based in Lima, Corporacion Aceros Arequipa is Peru’s largest steel producer. It currently exports to Bolivia, Colombia and Ecuador.

Counsel to Corporacion Aceros Arequipa

Payet, Rey, Cauvi, Pérez Abogados

Partners José Antonio Payet and Alfredo Chan Arellano, and associates Rafael Ortiz Encalada and Brian Avalos

Counsel to Comasa shareholders

Philippi Prietocarrizosa Ferrero DU & Uría (Peru)

Partner Rafael Boisset and associates Alessandro Mussio, Luis Miguel Garrido, Noelia Mariategui and Milagros Pastor

Source: Latin Lawyer

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