INICIA signed an agreement to acquire 50% stake of Industrias Nacionales, C. por A. from Gerdau S.A. (BOVESPA:GGBR4) on January 17, 2024. In a related transaction, INICIA also entered into agreement to acquire 49.85% stake of Diaco S.A. from Gerdau S.A. (BOVESPA:GGBR4) on January 17, 2024. The combined Transaction value has a $325 million base price. 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 completed the acquisition of 50% stake of Industrias Nacionales, C. por A. from Gerdau S.A. (BOVESPA:GGBR4) on February 1, 2024.