Alicorp S.A.A. completed the acquisition of 99.11% stake in Industrias Teal S.A.
January 04, 2013 at 04:00 am
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Alicorp S.A.A. (BVL:ALICORC1) signed an agreement to acquire 99.11% stake in Industrias Teal S.A for approximately PEN 410 million on December 27, 2012. JP Morgan Chase has granted a $40 million (PEN 100.34 million) loan to Salmonfood, the Chilean fish feed company from Alicorp. Alicorp has also secured a $50 million (PEN 125.43 million) loan from Banco Latinoamericano de Comercio Exterior based in Panama. Another loan contracted by Alicorp was with BCP (Banco de Credito del Peru) worth $90 million (PEN 225.77 million). Part of these funds have been used for the deal. The acquisition includes the assets of Industrias Teal S.A as well as the brand Sayon.
Teal reported revenues of PEN 264 million as of November 2012. Lazard Ltd. acted as financial advisor for Alicorp. The currency conversion has been done through oanda.com on December 28, 2012.
Alicorp S.A.A. (BVL:ALICORC1) completed the acquisition of 99.11% stake in Industrias Teal S.A on January 4, 2013.
Alicorp SAA is a Peru-based company engaged in the food processing industry. The Company operates through four business segments: Massive Consumption, Industrial Products, and Nutrition for Animals, and Others Services. The Companyâs activities include the production, packaging and distribution of a variety of oils, pastas, flour, cookies, sauces, instant soft drink powders, pet food and Omega-3 fatty acid, among others. It is also involved in the manufacture and sale of cosmetics, personal care and cleaning products. The Companyâs products are marketed nationwide, as well as exported to Chile, Bolivia, Colombia, Ecuador, Venezuela, Haiti, Guatemala, Costa Rica, the United States, the Dominican Republic, Nicaragua, Canada, Panama, Mauritius, Curacao, China, the Bahamas, Norway, Japan and Honduras.
ALICORP S.A.A. 
