Inversiones Caburga S.A. signed an agreement to acquire Cemento Polpaico S.A. (SNSE:POLPAICO) from LafargeHolcim Ltd. (SWX:LHN) and other shareholders for an enterprise value of CHF 220 million on October 7, 2016. The transaction will be executed by way of a public tender offer by Inversiones Caburga Limitada to all shareholders of Cemento Polpaico. As on July 10, 2017, Gamma Cementos S.A. made an competing offer to acquire Cemento Polpaico S.A. (SNSE:POLPAICO) for CLP 141 billion. Following the successful completion, LafargeHolcim would exit Chile completely. The transaction is subject to the approval of the Chilean competition authorities which is expected for the first half of 2017. Under the agreement, Hurtado Vicuña group has to divest a package of assets As of August 14, 2017, Inversiones Caburga S.A. completed the acquisition of 54.3% stake in Cemento Polpaico from LafargeHolcim Ltd. The deal is approved by Tribunal de Defensa de la Libre Competencia. J.P. Morgan acted as exclusive financial advisor to Bicentenario, S.A.

Jorge Granic, Arturo Bulnes, Cristian Araya, José Spoerer, José Pedro Ruiz and César Rivas of Larrain Y Associates acted as legal advisor to Hurtado Vicuna, parent of Inversiones Caburga. Timothy Gee, Jaime Munro and Cristóbal Larrain of Baker & McKenzie (Zurich) and Sander Van der Voorde, Diego Pardow, Raffaela Corte, Mauricio Garetto and Daniel Moris of FerradaNehme acted as legal advisor to LafargeHolcim. Gerardo Varela and Juan Cristóbal Gumucio of Cariola Díez Pérez-Cotapos & Cía. Ltda. acted as legal advisor to Cemento Polpaico.