- The company confirmed the signing, subject to closing, of the purchase and sale agreement with ASAI Capital Holdings Ltd.
- Alicorp will focus its strategy on strengthening its mass consumption business in Bolivia.
Alicorp, a leading mass consumption company, with a presence in several countries in the region, announced that it has signed a contract that defines the conditions for the sale of its milling business in Bolivia, Peru and Uruguay with ASAI Capital Holdings Ltd., a company in in which a group of renowned businessmen with important actions in different sectors of Bolivia participate. This group is led by Carlos Kempff.
The transfer of management of the business will take some time as some conditions must be met, including, among others, the acts aimed at formalizing the separation of the businesses and obtaining some licenses and permits.
Alicorp was represented by Citi as financial advisor and by Dentons, Garrigues and Guyer & Regules as legal advisors in Bolivia, Peru and Uruguay.
ASAI Capital Holdings Ltd. was represented by DDR Capital Partners as financial advisors and by PPO Abogados, Baker McKenzie, Philippi Prietocarrizosa Ferrero DU & Uría and Posadas as legal advisors in Bolivia, Peru and Uruguay.
Alicorp's mass consumption business in Bolivia will be developed through a recently formed company called Industria y Comercio Aliconsumo S.A.
This decision is aligned with Alicorp's corporate strategy to strengthen its operation in this market through its Mass Consumption business and the brands that are already recognized by Bolivian families.