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2020-10-30

Peruvian group Gloria enters Chile by acquiring stake in Cementos Bío Bío

Lexlatin.com

Bofill Mir & Álvarez Jana advised Inversiones ALB in the sale of its stake in the company Cementos Bío Bío. The buyer was the Peruvian business group Gloria, through its local subsidiary Yura Chile.

Inversiones ALB is owned by Anita and Loreto Briones, daughters of one of the company’s founders, and the sale of their 19.05% stake was agreed for 45 million dollars.

With this acquisition, Grupo Gloria marks its entry into the Chilean market. Italso operates in Peru, Colombia, Bolivia, Ecuador, Argentina and Puerto Rico.