Cuatrecasas, Uría Menéndez advise on COMEAC´s piping production plant sale to Molecor
Cuatrecasas has advised the COEMAC Group, formerly Uralita, on sale of the Adequa WS piping production plant, in the framework of Insolvency proceedings, for €45 million, to Molecor, advised by Uría Menéndez
This transaction represents the culmination of the COEMAC Group’s divestment process, which began a few years ago.
As the COEMAC Group’s last operating business, the piping division that it operated through its subsidiary Adequa WS was part of a sales process that could not be completed in the end.
Selling the production unit in insolvency proceedings provided an alternative that has enabled the COEMAC Group to divest its business while keeping its employees’ jobs.
Cuatrecasas participated in the design, implementation and final execution of the transaction. The transaction is valued at €45 million.
The Restructuring and Insolvency, Corporate and Commercial, and Finance Practices from the Cuatrecasas Madrid office worked together on this project with a team led by partners Ignacio Escrivá (pictured top left), Rafael Mínguez (pictured bottom left) and Fedra Valencia (pictured top right), with the collaboration of senior associate Javier Sanz (pictured bottom right) and associate Elena García.
On the other hand, Uría Menéndez has advised the buyer, Molecor, with a team led by partners Ángel Alonso and Eduardo Rodríguez-Rovira.