Invercap S.A. has sold a 47.3% stake in Novacero to CAP S.A.

Invercap S.A. has sold a 47.3% stake in Novacero to CAP S.A. Financials will remain confidential.

Novacero is present in the steel processing industry through its 50.9% stake in Cintac S.A. and 30.6% stake in Intasa S.A.

CAP engages in iron ore mining, steel production and steel processing businesses in Chile and internationally. It operates in four segments: CAP Mining, CAP Steel, CAP Steel Processing and CAP Infraestructura. The company extracts, processes, and sells minerals and produces iron ore and pellets in the Pacific coast. It also produces and sells rods for ore grinding and reinforcing concrete, and other rod products for distributors and construction companies, processors and industrial companies, manufacturers of metal packaging, wire drawers, tube and profile factories, metal workshops, and mines. In addition, the company engages in the cutting of coils; pressing of cold, hot, and galvanized rolled sheets; and manufacture and sale of seamed steel pipes, and steel pipes and profiles for dry construction, as well as the provision various solutions for the construction, residential, industrial, commercial, highway engineering, mining, and other sectors.

Invercap, through its subsidiaries, engages in the extraction of iron ore and the roduction of steel in Chile and Latin America. Its steel products include steel bars, flat products, structural tubes, pipes and open profiles. The company also provides shaped steel products for structural use and conduction of steel fluids for safety and construction markets. It is also involved in operating mini-hydroelectric power stations and solar and wind generation projects.

Oaklins' team in Chile advised the seller in this transaction.