Bekaert to Sell Steel Wire Solutions Businesses in Costa Rica, Ecuador, and Venezuela

Cleary Gottlieb is representing long-standing client NV Bekaert SA (Bekaert) in the sale of its Steel Wire Solutions businesses in Costa Rica, Ecuador, and Venezuela to Grupo AG.

The transaction values the underlying entities at a consolidated enterprise value of approximately $73 million.

The transaction concerns the sale of the shares held by Bekaert in BIA Alambres Costa Rica S.A. in Costa Rica, Ideal Alambrec S.A. in Ecuador, and Vicson S.A. in Venezuela, along with their subsidiaries in each of those countries. The transaction signed on February 27, 2025, and closing is expected to occur in the third quarter of 2025, subject to customary closing conditions and regulatory approvals.

Bekaert, headquartered in Belgium and listed on Euronext Brussels, is a global market and technology leader in material science of steel wire transformation and coating technologies. Bekaert also applies its expertise beyond steel to create new solutions with innovative materials and services for markets including new mobility, low-carbon construction, and green energy.

Grupo AG is a regional leader in steel production and construction solutions with operations in Guatemala and Honduras and presence in eleven countries through its distribution network.