metadesc: Brazilian natural resources player Gerdau sold its participation in Spanish company Gerdau Hungria KFT Y CIA Sociedad Regular Colectiva, which owns 98.89% of Gerdau Steel India Ltd shares, to Blue Coral Investment Holdings and Mountainpeak Investment Holdings Ltd (a special purpose vehicle of ADV Partners, an Asian PE fund), according to a company statement. “The transaction perimeter involves 100% of the operations and assets in India, including the special steels industrial unit located in Tadipatri, with annual installed capacity of 250 thousand tonnes of crude steel and 300 thousand tonnes of rolled steel. The enterprise value of the transaction corresponds to US$120 million, subject to the typical adjustments. The consummation of the transaction is subject to typical settlement conditions and is expected to occur by the end of 2018.”
Brazilian natural resources player Gerdau sold its participation in Spanish company Gerdau Hungria KFT Y CIA Sociedad Regular Colectiva, which owns 98.89% of Gerdau Steel India Ltd shares, to Blue Coral Investment Holdings and Mountainpeak Investment Holdings Ltd (a special purpose vehicle of ADV Partners, an Asian PE fund), according to a company statement. “The transaction perimeter involves 100% of the operations and assets in India, including the special steels industrial unit located in Tadipatri, with annual installed capacity of 250 thousand tonnes of crude steel and 300 thousand tonnes of rolled steel. The enterprise value of the transaction corresponds to US$120 million, subject to the typical adjustments. The consummation of the transaction is subject to typical settlement conditions and is expected to occur by the end of 2018.”
AZB & Partners advised
2018-08-24
Deal value: Rs 845 crore ($120m)
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