Carvajal Empaques S.A. (BVC:PFCARPAK) signed a contract to acquire Acepack S.A. from Acero Estructural De Colombia S A S for COP 6.2 billion on November 21, 2017. The purchase price is subject to working capital adjustments. As reported, an amount of COP 3.5 billion will be paid divided in three annual payments starting in 2018 while the remaining amount is to be paid on the transaction closing date. Under the contract, Carvajal Empaques will acquire the assets and waive certain contracts with Acero Estructural De Colombia regarding Acepack S.A. The closing of said transaction is conditional on the approval of the Industry and Commerce Superintendence. The transaction was approved by the Board of Directors of Carvajal Empaques on November 21, 2017. Carvajal Empaques S.A. (BVC:PFCARPAK) cancelled the contract to acquire Acepack S.A. from Acero Estructural De Colombia S A S on November 21, 2018.