Cuatrecasas has recently advised the STRACON Group
on acquiring all the shares and units representing the share capital of AMECO Chile S.A. and AMECO
STRACON provides mining services in North and South America and is majority owned by global asset manager Ashmore Group plc (LSE: ASHM).
Specialized lawyers from the Cuatrecasas Lima and Santiago offices jointly provided the advisory services. This transaction will enable STRACON to expand its business in South America, particularly in Chile and Peru—the two top copper producers, with highly developed and specialized mining industries—where the mining equipment rental business will operate.
The companies that form AMECO South America were subsidiaries of Fluor Corporation and have a strong and widespread presence in the mining services industry in both countries.
Oscar Trelles, managing director of the Cuatrecasas Lima office, said: "We are proud to have helped our client the STRACON Group with its international expansion. This transaction involved the collaboration of several multidisciplinary teams from our offices in Chile and Peru and required coordinated work to ensure the simultaneous closing in both jurisdictions.”
Steve Dixon, CEO of the STRACON Group, said: “The acquisition will add both scope and scale to STRACON’s operations, increase revenues by approximately 25%, add new service lines and geographies, and be immediately accretive to earnings. The acquisition will not only strengthen our ability to bid on major projects in the region, but also further diversify our revenue streams.”