INICIA agreed to acquire 50% stake of Industrias Nacionales, C. por A. and 49.85% stake of Diaco S.A. from Gerdau S.A. (BOVESPA:GGBR4) for $330 million on January 17, 2024. The Company estimates that the Transaction will close within the first half of 2024, subject to the satisfaction of conditions precedent customary in operations of this nature, particularly the approval by the Colombian antitrust authority. INICIA acquire 50% stake of Industrias Nacionales, C. por A. and 49.85% stake of Diaco S.A. from Gerdau S.A. (BOVESPA:GGBR4) for $330 million on January 18, 2024. Todd Crider, Borja Marcos, and Ismael Duran of Simpson Thacher & Bartlett LLP acted as legal advisor to Gerdau S.A.

INICIA completed the acquisition of 50% stake of Industrias Nacionales, C. por A. and 49.85% stake of Diaco S.A. from Gerdau S.A. (BOVESPA:GGBR4) for $330 million on January 18, 2024.