On October 27, the Federal Economic Competition Commission ("COFECE" for its acronym in Spanish) authorized the merger among and between Gerdau Corsa, S.A.P.I de C.V, Aceros Corsa, S.A. de C.V. and Sidertul, S.A. de C.V. ("Sidertul"), to jointly operate the commercial profiles and beams business currently held with Grupo Córdova, with the rebar business of Grupo Gerdau.
As a result of the operation, the Grupo Gerdau and Grupo Cordova will be able to achieve synergies, such as reduced financial expenses, centralization of business activities and optimization of administrative, operational and tax costs.
Basham Ringe y Correa, S.C. advised Grupo Gerdau in obtaining the merger authorization before the COFECE.
Grupo Gerdau is one of the world's leading steel producers and is controlled by Gerdau SA, a public company incorporated under the laws of the Federative Republic of Brazil and engaged in the production and marketing of steel products in North and South America, including Brazil.
Lawyers:
Partner: Amílcar Peredo
Senior Associate: León Jiménez