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

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SAO PAULO (Reuters) – 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.

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

Adelco delivers to approximately 30,000 retailers in Chile and is also present in Bolivia, Argentina and Peru. Profits will be used to strengthen Adelco’s digital presence, the statement added.

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

IG4 concluded in August the acquisition of the Peruvian conglomerate Aenza, formerly known as Grana y Montero.

The asset manager focused on infrastructure investments in Latin America. He recently tried to acquire a stake in the Brazilian transport company CCR SA, but the deal was not reached following disagreements with other shareholders.

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

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


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