On August 17, 2023, the Belgian group Umicore sold its 40% stake in Industrias Electroquímicas S.A. - IEQSA to Zochem, a U.S. company. The transaction was announced on the Lima Stock Exchange, however, the price was not disclosed and kept confidential.

 

IEQSA https://www.ieqsa.com.pe/ is a Peruvian company with more than 60 years of history, listed on the Lima Stock Exchange, which operates an industrial plant for the transformation and production of zinc-based products, located in Callao, Peru, being the main industrial complex of its kind in South America.

 

Umicore https://www.umicore.com/en/ is a multinational circular materials technology group focused on the catalysis, energy, and surface and recycling technologies industries. The group is present in Belgium, Germany, Brazil, China, Japan, France, Korea, India, Poland, among other countries. Umicore entered the Peruvian market with its investment in IEQSA in 2003. This transaction completes its divestment in Peru, as well as in assets related to the zinc industry.

 

Zochem https://www.zochem.com/ is a leading producer of zinc oxide in North America. This transaction represents a milestone in its history as its first investment in Peru and Latin America.

 

With the investment in IEQSA, Zochem seeks to expand the development and manufacture of zinc products for emerging green applications, including cost-effective, biocompatible and environmentally friendly emergency backup batteries and energy storage.

 

Rebaza, Alcazar & De Las Casas advised Umicore on the sale.

 

The closing of the transaction has received significant attention in specialized media, such as:

 

https://www.rubbernews.com/acquisition/zochem-adds-south-american-presence-ieqsa-stake

 

https://gestion.pe/economia/empresas/zochem-ieqsa-compra-de-empresas-zochem-de-eeuu-compra-40-del-fabricante-peruano-de-productos-de-zinc-ieqsa-noticia/

 

https://euro.eseuro.com/local/860627.html


Umicore’s legal counsels:

 

Rebaza, Alcázar & De Las Casas (Peru): Partner Luis Miguel Elías and associates Pablo León, María José García, Patricio Bouroncle and Camila Briceño.


Zochem’s legal counsels:

 

Rosselló Abogados (Peru): Partner Carolina Castro.

Foley & Lardner LLP (US): Partner Greg Meeks and associate Talita Duarte.


IEQSA’s legal counsels:

 

Rodrigo, Elías & Medrano (Peru): Partner Eduardo López and associate Jacques D’auriol.