Mexico City May 24, 2017. Santamarina y Steta recently advised Grupo Industrial Saltillo, S.A.B. de C.V. in the sale of its subsidiaries Calentadores de América, S.A. de C.V., Fluida, S.A. de C.V. and Water Heating Technologies Corp., which are engaged in the manufacturing, selling and distributing of residential and commercial water heaters, pipe fittings and related products, to Rheem Manufacturing Company at a purchase price of MXP$3,915 million. The transaction is expected to close once the parties obtain clearance from the competition authority in Mexico.
The Santamarina y Steta team was led by partners Jorge Barrero Stahl and Carlos Argüelles González and associate Bárbara Asiain.