Proninsa S.A.S. advised by Posse Herrera Ruiz

PRONINSA S.A.S. SELLS ITS PARTICIPATION IN GRUPO QUÍMICO, C.A. TO ESMERALDA HOLDING LTD AND GEMMA TACTICAL HOLDINGS LLC.

Proninsa S.A.S. was advised by Posse Herrera Ruiz in the sale of its 78.28975% stake in Grupo Químico, C.A. to Esmeralda Holding LTD and Gemma Tactical Holdings LLC through a tender offer on the Caracas Stock Exchange. The tender offer was completed on September 25, 2024.
Corporación Grupo Químico, C.A. is a holding company of several companies in the paint and chemical industry in Venezuela.
DEAL VALUE:

USD 7,853,750.63

ANNOUNCEMENT/SIGNING DATE:
Saturday, June 22, 2024

CLOSING DATE:
Wednesday, September 25, 2024

Cross-border matter:
Venezuela

Stake in Colombia:
78.28975%

LEGAL ADVISORS

COUNSEL TO PRONINSA S.A.S.

Venezuela: MENPA
Lead Partners: Manuel Acedo Sucre, César Lepervanche

Colombia: Posse Herrera Ruiz
Lead Partner: José Alejandro Torres
Other Lawyers: Daniel Meza

COUNSEL TO ESMERALDA HOLDING LTD Y GEMMA TACTICAL HOLDINGS LLC

MENPA
Lead Partners: Luisa Acedo, Luisa Lepervanche, Diego Lepervanche