The deal, which saw SACEEM pay an undisclosed amount for a 51 per cent stake in Grinor, closed on 21 March after receiving approval from the Uruguayan antitrust authority. Grinor was advised by Guyer & Regules, while SACEEM turned to FERRERE for counsel.
Grinor’s founders, who are four civil engineers, will remain as minority shareholders and directors in order to provide SACEEM with the expertise in civil work required to expand Grinor’s business, which SACEEM will use to complement its core infrastructure development activities.