Alicorp, owner of Fino oil, sells its milling business in Bolivia, Peru and Uruguay

Alicorp, a leading consumer goods company with a presence in several countries in the region, announced today the signing of a Contract for the sale of its milling business in Bolivia, Peru and Uruguay ASAI Capital Holdings Ltd., a company made up of renowned businessmen with extensive experience in various sectors in Bolivia, led by Carlos Kempff, former general manager of Sociedad Aceitera del Oriente (SAO).

The amount of the transaction is unknown. The sale of the milling business where they process Fine Oil, SAO and Sabrosa, will allow Alicorp to focus on strengthening its mass consumption operation in Boliviawhere it has the brands Doña Gringa, Plus Ultra, Arnolds, Angelito and Santisima, revealed by the Peruvian holding company that also owns the Romero Group.

The transfer of management of the milling business will be carried out gradually, subject to compliance with certain conditions, including the formalization of the separation of businesses and obtaining the necessary licenses and permits.

In May, the multinational company Alicorp announced its decision to define conditions for the divestment of its direct or indirect participation in its milling line (refined flours and oils made from sunflower and soybean seeds) in Bolivia, through a Fact of Interest reported to the Superintendency of Securities Markets (SMV). In Bolivia, it manufactured Fino, SAO and Sabrosa oils.

In this transaction, Alicorp received financial advice from Citi and legal advice from Dentons, Garrigues and Guyer & Regules in Bolivia, Peru and Uruguay.

For its part, ASAI Capital Holdings Ltd. was financially advised by DDR Capital Partners and legally byr PPO Lawyers, Baker McKenzie, Philippi Prietocarrizosa Ferrero DU & Uría and Posadas in Bolivia, Peru and Uruguay.

Alicorp reaffirms its commitment to the Bolivian market and will continue operating in the country through its mass consumption businesswhich will be developed through a new company called Industry and Commerce Aliconsumo SA

This decision is part of Alicorp’s corporate strategy to focus on its fastest-growing and most profitable businesses, which will allow the company to provide better service to its customers and consumers in Bolivia.

Alicorp is a leading consumer goods and agribusiness company with a presence in more than 18 countries. The company offers a wide variety of high-quality products, including food, beverages, personal and household care products, and industrial solutions. Alicorp is committed to sustainable development and the creation of value for its stakeholders.

While ASAI Capital Holdings Ltd. is a company made up of a group of renowned businessmen with extensive experience in various sectors of Bolivia, led by Carlos Kempff. The company aims to invest in companies with high growth potential in Bolivia and the region.