(Photo: Diego M. Radzinschi/ALM)

DLA Piper represented Putney Capital Management in its acquisition of a 50 percent interest in a Colombian steel mill owned by a major Brazil-based steel manufacturer.

Putney, an asset management and advisory company located in Central America and the Caribbean, made the acquisition from Brazilian steel manufacturer Gerdau S.A., creating a joint venture to operate the $165 million Gerdau Diaco steel mill in Colombia. The joint venture is expected to improve efficiency, distribution and market share for the steel mill’s products, said DLA Piper partner Francisco Cerezo, who is the U.S. head of the firm’s Latin America corporate practice, and who led the team representing Putney.

Details of the transaction were not disclosed, but the firm said Putney acquired a 50 percent interest and the deal included cash and other considerations.

Several years ago, the two companies formed a joint venture by combining the operations of two separate steel mills in the Dominican Republic. Success there led the companies to expand their joint ventures operations to the mill in Colombia.


Francisco J. Cerezo, left, and John L. Murphy, right.

The DLA Piper team advising Putney Capital included Cerezo, who has represented Putney for several years, and partners Nikos Buxeda in San Juan, Puerto Rico, and John Murphy in Miami. The team also included DLA Piper Martinez Beltran partners Felipe Ospina and Camilo Martinez in Bogota, project manager John Guarin in New York, foreign legal consultant Melisande E. Brodeur-Perez in Miami, and associates Joseline Rodriguez of Miami and Andres Torres and Sebastian Celis, both of Bogota. DLA Piper Martinez Beltran, which is based in Colombia, operates under a cooperation agreement between DLA Piper and Martinez Beltran— one of Colombia’s leading law firms.

Putney Capital was also advised by attorneys with OMG, a law firm located in the Dominican Republic.

A legal team led by Simpson Thacher and Bartlett partner Jaime Mercado in New York represented Gerdau.

Copyright Daily Business Review. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

DLA Piper represented Putney Capital Management in its acquisition of a 50 percent interest in a Colombian steel mill owned by a major Brazil-based steel manufacturer.

Putney, an asset management and advisory company located in Central America and the Caribbean, made the acquisition from Brazilian steel manufacturer Gerdau S.A., creating a joint venture to operate the $165 million Gerdau Diaco steel mill in Colombia. The joint venture is expected to improve efficiency, distribution and market share for the steel mill’s products, said DLA Piper partner Francisco Cerezo, who is the U.S. head of the firm’s Latin America corporate practice, and who led the team representing Putney.

Details of the transaction were not disclosed, but the firm said Putney acquired a 50 percent interest and the deal included cash and other considerations.

Several years ago, the two companies formed a joint venture by combining the operations of two separate steel mills in the Dominican Republic. Success there led the companies to expand their joint ventures operations to the mill in Colombia.


Francisco J. Cerezo, left, and John L. Murphy, right.

The DLA Piper team advising Putney Capital included Cerezo, who has represented Putney for several years, and partners Nikos Buxeda in San Juan, Puerto Rico, and John Murphy in Miami. The team also included DLA Piper Martinez Beltran partners Felipe Ospina and Camilo Martinez in Bogota, project manager John Guarin in New York , foreign legal consultant Melisande E. Brodeur-Perez in Miami, and associates Joseline Rodriguez of Miami and Andres Torres and Sebastian Celis, both of Bogota. DLA Piper Martinez Beltran, which is based in Colombia, operates under a cooperation agreement between DLA Piper and Martinez Beltran— one of Colombia’s leading law firms.

Putney Capital was also advised by attorneys with OMG, a law firm located in the Dominican Republic.

A legal team led by Simpson Thacher and Bartlett partner Jaime Mercado in New York represented Gerdau.

Copyright Daily Business Review. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.