Brazilian steel producer Gerdau informed in a statement that it has concluded the sale of its 50 percent shareholding participation at the Colombia based Gerdau Metaldom Corp to the INICIA group, which already owns 50 percent of the company’s capital.
Gerdau informed that the conclusion follows the fulfilment of the usual conditions for such operations.
In relation to the sale of its interests at Diaco S.A., previously announced with the sale of Metaldom, Gerdau informed that the process, which includes the approval of the Colombian anti-trust authority, is expected to be concluded during the first half of 2024.
The divestment from these companies was described by Gerdau as an operation to allocate capital to fund long-term value creation assets.
