Grupo Lamosa, S.A.B. de C.V. (BMV:LAMOSA *) completed the acquisition of Baldocer SA.
October 31, 2023
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Grupo Lamosa, S.A.B. de C.V. (BMV:LAMOSA *) reached an agreement to acquire Baldocer Sa for approximately ?430 million on September 22, 2023. The acquisition of Baldocer will be covered by two payments, the first payment of ?354 million at the closing of the transaction, and the second payment in 2025 for an amount not less than ?71 million, which may vary depending on Baldocer's results. The company expects to finance the transaction mainly through debt. The transaction in terms of enterprise value will be net debt free and subject to customary adjustments. The transaction is subject to the applicable corporate and legal approvals that are usual for this type of transaction. Pablo Cubel, Juan Grima, Francisco Picó and Gustavo Robles of Cuatrecasas, Gonçalves Pereira & Associados R.L. acted as legal advisor to Baldocer.
Grupo Lamosa, S.A.B. de C.V. (BMV:LAMOSA *) completed the acquisition of Baldocer SA on October 31, 2023. All the required approvals including Shareholder approval has been received.
Grupo Lamosa SAB de CV is a Mexico-based company engaged, through its subsidiaries, in the construction and real estate sectors. The Companyâs activities are structured into four business areas, namely Tiles and Flooring, Adhesives and Waterproofing, Sanitary Ware and Real Estate Development. The Tiles and Flooring area offers such brand names, as Porcelanite, Lamosa, Italica and Firenze Tecnoarte. The Adhesives and Waterproofing area operates through the Companies Crest, Perdura, Niasa and Solutek. The Sanitary Ware area operates through the Sanitarios Lamosa company. The Companyâs real estate operations include the acquisition, development and promotion of residential and non-residential properties. It operates through Ceramica San Lorenzo.