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Cobaltum Advises Putney Capital in its acquisition of a 50% stake in Colombian steel mill, Diaco S.A., from Gerdau

Transaction Overview: On June 30, 2017, Putney Capital Management, Ltd. (“Putney”) announced the acquisition of a 50% stake in Diaco S.A. (“Diaco”) from Gerdau S.A. (“Gerdau”), which retained a 50% stake in the company Founded in 1961, Diaco is the largest steel maker in Colombia with an installed capacity of over 670,000 tons/year of crude steel and the largest scrap iron recycling plant in the country.  The company’s main production plants are located in Tocancipá, Muña and Tuta.  The company offers a wide portfolio of products focused primarily in the civil construction and industrial sectors Putney is an asset management and private equity investment firm focused on the industrial and energy sectors throughout the Caribbean, Central America and NOLA.  Putney is an affiliated partner of INICIA and currently manages INICIA’s energy and industrial investment portfolio.  Putney was founded in...Read More