Belgian wire processing firm Bekaert has agreed to sell its steel wire solutions businesses in Costa Rica, Ecuador, and Venezuela to Grupo AG for an enterprise value of approximately USD 73 mln. The deal is expected to generate net proceeds of around USD 37 mln for Bekaert and is set to close in the third quarter of 2025, pending regulatory approvals and customary conditions.
This divestment aligns with Bekaert’s strategy to shift away from commoditized, volatile markets and focus on high-growth segments with better profitability. Following its 2023 exit from Chile and Peru, the company continues streamlining its portfolio while ensuring a stable future for the affected businesses, employees, and customers.
The transaction includes the production and distribution facilities in Costa Rica, Ecuador, and Venezuela, which manufacture steel wire products for construction, agricultural fencing, mining, and industrial applications. It involves the sale of Bekaert’s shares in BIA Alambres Costa Rica S.A., Ideal Alambrec S.A. in Ecuador, and Vicson S.A. in Venezuela, along with their subsidiaries.
Bekaert specializes in processing and coating steel wire for various industries, including automotive, construction, and energy.
