Band Tatiana Bautzer
SAO PAULO, September 24 (Reuters) – Peruvian Conglomerate Aenza SAA AENZAC1.LM is preparing a restructuring of the company which will include the split of its construction unit, a new issue of bonds and a possible offer of shares to finance its growth, according to its new controlling shareholder.
Brazilian private equity fund IG4 is planning a corporate reorganization following the completion of the acquisition to transform Aenza into an infrastructure operator in Latin America, IG4 CEO and Managing Partner Paulo Mattos said in a statement. interview with Reuters.
Aenza has hired Banco Santander’s investment banking unit to handle a $ 400 million debt issue that is expected to include a dollar-denominated bond and local debt in Peru, Mattos added.
The group also mandated Lazard and Santander to initiate the process of splitting up its construction, real estate and oil and gas units. Once the split is complete, Aenza will consider selling the unit, Mattos said.
“We want Aenza to focus on operating the infrastructure and becoming a multinational company in different Latin American countries,” said Mattos. Aenza should seek opportunities to operate private airports and highways, for example, throughout Latin America.
The executive said Aenza may consider a stock offering after the split, depending on the funding needed to expand.
The company is expected to open offices in other Latin American countries beyond Peru and one in Miami to examine opportunities in the region.
IG4 concluded Aenza’s leadership change earlier this week, electing a new board of directors. Former Telefonica executive and IG4 partner Juan Revilla is the new president. The other members of the board of directors appointed by the private equity firm are Gustavo Buffara, Pablo KÃ¼hlenthal and Gema Garrido.
The new CEO of Aenza is Andre Mastrobuono, former head of IG4 turnaround, with previous experience in the buyout companies Carlyle and GP Investmentos.
(Reporting by Tatiana Bautzer; editing by David Evans)
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