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.
