Brazilian asset manager IG4 Capital agrees to buy 50% of Chilean logistics operator Adelco

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SAO PAULO (Businesshala) – Brazilian asset manager IG4 Capital has agreed to buy 50% of Chilean logistics operator Adelco for $57 million, it said in a statement on Wednesday.

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Adelco, formally known as Abastecedora del Comercio, is Chile’s largest distributor of consumer products.

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Adelco distributes to approximately 30,000 retailers in Chile and also has operations in Bolivia, Argentina and Peru. The proceeds will be used to strengthen Adelco’s digital presence, the statement said.

The group also has distributors specialized in cleaning goods, alcoholic beverages and a food packaging company. The acquisition of a stake in Adelco is the first IG4 investment in Chile.

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IG4 acquired Peruvian conglomerate Enza, formerly known as Grana y Monteiro, in August.

The asset manager has focused on infrastructure investments in Latin America. It recently tried to acquire a stake in Brazilian transport company CCR SA, but the deal did not close after disagreements with other shareholders.

IG4 controls the sanitation company Igua Saneamento, in which the Canadian pension fund CPPIB holds a 45% stake. The company acquired part of the license to operate water and sewage services in the state of Rio de Janeiro at an auction in April.

Reporting by Tatiana Botzer; Editing by Chris Reese and Steve Orlofsky

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