Gamma Cementos II SA entered into an agreement to acquire Cemento Polpaico S.A. from Volcan Compañía Minera S.A.A., Inversiones Caburga Limitada, Inmobiliaria Escorial Limitada, Inversiones Lota Green SPA, Inversiones Marchingue Limitada and Inversiones Megeve Dos Limitada.

Gamma Cementos II SA entered into an agreement to acquire Cementos Polpaico SA from Volcan Compañía Minera S.A.A. (BVL:VOLCABC1), Inversiones Caburga Limitada, Inmobiliaria Escorial Limitada, Inversiones Lota Green SPA, Inversiones Marchingue Limitada and Inversiones Megeve Dos Limitada on February 18, 2020. On March 23, 2020, The transaction was approved by the Hurtado Vicuna Group, the parent company of Inversiones Caburga Limitada. A letter sent to the Comisión para el Mercado Financiero (CMF) has confirmed the Polpaico's controlling group Cementos Gamma SA will incorporate BSA, following a 70/30 proportion agreed between their respective shareholders.

The transaction is expected to close within four months. Landmark Capital S.A. acted as fairness opinion provider for Cementos Polpaico. Jorge Granic of Larrain y Asociados acted as legal advisor to Cemento Polpaico S.A. and Gamma Cementos S.A. in the transaction.

Jorge Arancibia of HIPA Abogados acted as legal advisor to certain minority shareholders of Polpaico in the transaction.