Ashmore and Steve Dixon buy participating interest held by Graña y Montero in Stracon GyM

Stracon S.A.C., a Special Purpose Vehicle (SPV), composed of Ashmore Group and Steve Dixon, bought the 87,59 % participating interest held by the Graña y Montero group (GyM S.A.) in Stracon GyM S.A., a Peruvian mining contractor, for USD 76,82 million.

On the other hand, Scotiabank Perú S.A.A. and Banco de Crédito del Perú entered into a mid-term USD 56 million loan agreement with Stracon S.A.C. to finance the purchase of Stracon GyM S.A.

The parties had signed a purchase and sale agreement on March 28^th.  The purchase was closed on April 11^th.  The seller was represented by Muñiz, Olaya, Meléndez, Castro, Ono & Herrera Abogados and its inhouse legal team.

As far as the buyers are concerned, Estudio Echecopar, a member firm of Baker & McKenzie International, acted as legal counsel to Ashmore, a British investment management fund, while Carrera & Pinatte Abogados acted as legal counsel to Steve Dixon, general manager, co-founder and minority shareholder of the company bought.  Steve Dixon also sought financial advice from EFIC Partners.

Source: LexLatin