![]() Other Lawyers Jorge Duque, Martin Pallares, Daniel Peré Vietri Other Lawyers Emilia Arango, Carlos Múnera, Felipe Pardo, Daniel Meza, David Ulloa ![]() Leading Partner(s) José Alejandro Torres, Juan Guillermo Ruiz, Mariana Posse, Natalia Escobar is a Colombian company specialized in paints and chemicals with a presence in over ten (10) countries in Central America, South America and the Antilles.Īnnouncement date: Tuesday, June 29, 2021Ĭross-border matter: Colombia, Curacao, Aruba, Perú, Ecuador, Panamá, Costa Rica, Nicaragua, El Salvador, Guatemala, Honduras.ĬOUNSEL TO SHAREHOLDERS OF GRUPO ORBIS S.A. ![]() For the first time in the history of the Colombian Stock Exchange, one hundred percent (100%) of the shares of a public company were transferred directly to a purchaser, without the need for a tender offer. to Akzo Nobel Coatings International B.V., Akzo Nobel Colombia S.A.S., AkzoNobel (C.) Holdings B.V., Panter B.V. Titan, a trust managed by BTG Pactual Sociedad Fiduciaria S.A., transferred 100% of the shares of Grupo Orbis S.A. The intended transaction follows on from a series of recent acquisitions by AkzoNobel across the paints and coatings industry over the last 18 months, which have included Titan Paints in Spain and New Nautical Coatings in the US.On April 21, 2022, after satisfying the conditions precedent set forth in the share purchase agreement dated June 29, 2022, including merger clearances in multiple jurisdictions and a corporate reorganization to carve-out the excluded assets from the transaction, the P.A. It’s therefore expected that joining AkzoNobel’s “Let’s Colour” program with the expertise of the Pintuco Foundation will provide fresh impetus for further improving the quality of life for people in local communities throughout the region. Both companies also share a strong belief in the transformative power of colour and a highly committed approach to sustainability. In addition to creating value from global and regional product and service innovation, the intended acquisition will enable AkzoNobel to better serve customers across more geographies, as well as accessing new markets. Likewise, we find great opportunities for the development of our employees and our clients, who will be able to access an enlarged and more complete portfolio.” We strongly believe there are several benefits, such as access to technology and innovation pipelines. ![]() We’ll be able to access highly complementary geographical positions in several new countries, including Colombia, which is the third largest in the region.”Ĭommenting on the deal, Andres Bernal, Grupo Orbis CEO, said: “This agreement represents an important growth opportunity for Orbis Group’s companies. “It will expand our long-term position across South America by establishing us as a frontrunner in the Andean region and in Central America, where several countries are high on the global growth rankings for the next decade.”ĭaniel Campos, the company’s Regional Director for South America added: “It’s an historic opportunity that offers attractive growth potential across both paints and coatings. “This is an excellent intended acquisition which aligns perfectly with our Grow and Deliver strategy of creating leading global positions and driving growth in emerging markets,” explained Thierry Vanlancker, AkzoNobel CEO. The transaction includes the Pintuco paints and coatings business, Andercol and Poliquim (resins) and Mundial (distribution and services). Present in ten countries in South America, Central America and the Antilles, Grupo Orbis has consolidated revenue of around €260 million. Completion is subject to regulatory approvals and is expected by end of this year, or in early 2022. AkzoNobel is to further expand its long-term position in South and Central America after reaching an agreement to acquire Colombia-based paints and coatings company Grupo Orbis. ![]()
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