Muñiz, Olaya, Meléndez, Castro, Ono & Herrera advised Peruvian conglomerate Calaminon in the sale of a US$40 million majority stake to Cintac, a subsidiary of the Chilean mining company CAP.
CAP subsidiary Cintac now owns an indirect 70% stake in Calaminon’s holdings. These include mining companies Estructuras Industriales EGA and Vigas y Tubos; thermal insulation provider FERA Peru and roofing business Frio Panel.
Cintac conducted the acquisition through one of its Peruvian affiliates, Steel Building. The Chilean company first entered Peru 20 years ago through its subsidiary Tupermesa, which has made steel products for the agroindustry, mining and infrastructure sectors for more than 50 years.
Cintac is a holding company and involved in steel making. It operates in the construction, manufacturing and industrial sectors.
Source: Latin Lawyer