Inversiones Arauco Internacional Limitada and Araucomex, S.A. De C.V. agreed to acquire Five Mexican subsidiaries from Masisa S.A. for $245 million on December 19, 2017. Under the terms of the agreement, Inversiones Arauco and Araucomex will acquire all shares of Maderas y Sintéticos de México, S.A. de C.V., Maderas y Sintéticos Servicios, S.A. de C.V., Masisa Manufactura, S.A. de C.V., Placacentro Masisa México, S.A. de C.V. and Masnova Química, S.A. de C.V. As on January 25, 2019, The deal value is revised from $245 million to $160 million. The transaction is subject to a series of customary conditions precedent including approval by the Mexican antitrust authority Comisión Federal de Competencia Económica and is expected to be completed in first half of 2018. As of January 25, 2019, the Mexican regulator has approved the deal. Masisa use the proceeds to reduce its debt, which along with the reductions underway in corporate and operating expenses, will enable the company to significantly improve profitability. The transaction is expected to close on January 31, 2019. Mijares, Angoitia, Cortés y Fuentes, SC and Portaluppi Guzmán y Bezanilla Asesorías Limitada acted as legal advisor to Arauco International. Colombian investment bank Inverlink and UBS Investment Bank acted as financial advisor to Masisa for the divestment process. Inversiones Arauco Internacional Limitada and Araucomex, S.A. De C.V. completed the acquisition of Five Mexican subsidiaries from Masisa S.A. on January 31, 2019.