FERRERE Paraguay assisted the Kingspan Group in establishing a joint venture with MV Aceros S.A. The joint venture will manufacture insulated metal panels and single skin metal products primarily for the Paraguayan market.
Kingspan Group is the Irish head-quartered global leader in high performance insulation and building envelopes. With 212 manufacturing locations in 80+ countries, Kingspan’s mission is to accelerate a net zero emissions future with the wellbeing of people and planet at its heart through its Planet Passionate program. MV Aceros S.A. is a Paraguayan company with significant experience in, and knowledge of, the local Paraguayan market in metal building products.
This strategic deal recently obtained unconditional clearance from the national antitrust authority in Paraguay, Comisión Nacional de la Competencia (CONACOM).The advice, which was led by the partner Carlos Vasconcellos, had various lines of work and involved the following practitioners: Raúl Pereira and Guillermo Gibbons (joint venture); Verónica Franco, Fernanda Benítez and Mario Morales (CONACOM authorization); Erika Bañuelos, Tanya Moreno and María José Salinas (application of tax incentives regime).
Ferrere (Uruguay) had previously advised the Kingspan Group on other transactions, including the acquisition of Bromyros S.A. and Montfrío Ltda. in Uruguay, as well a sponsorship agreement with the Uruguayan Rugby Union, highlighting Kingspan’s desire to develop an expanded footprint in Latin America.