Grupo Lamosa, S.A.B. de C.V. (BMV:LAMOSA *) reached an agreement to acquire Baldocer Sa for approximately ?430 million on September 22, 2023. The acquisition of Baldocer will be covered by two payments, the first payment of ?354 million at the closing of the transaction, and the second payment in 2025 for an amount not less than ?71 million, which may vary depending on Baldocer's results. The company expects to finance the transaction mainly through debt.

The transaction in terms of enterprise value will be net debt free and subject to customary adjustments. The transaction is subject to the applicable corporate and legal approvals that are usual for this type of transaction. Pablo Cubel, Juan Grima, Francisco Picó and Gustavo Robles of Cuatrecasas, Gonçalves Pereira & Associados R.L. acted as legal advisor to Baldocer.