EXCLUSIVE Brazilian cement makers CSN, Apodi, Mizu, Votorantim, Intercement bid for LafargeHolcim assets -sources

The logo of LafargeHolcim, the world’s largest cement maker, is seen at its headquarters in Zurich, Switzerland, March 2, 2017. REUTERS/Arnd Wiegmann/File Photo

SAO PAULO, July 30 (Reuters) – Brazilian cement makers CSN Cimentos, a subsidiary of steelmaker CSN SA (CSNA3.SA); Cimentos Mizu; and Cimento Apodi, in which Titan Cement International (TITC.BR) has a stake, are among the bidders for assets LafargeHolcim Ltd has put for sale, two people with knowledge of the matter said.

Lafarge, the world’s largest cement maker, expects proceeds of $1 billion to $1.5 billion, the people said on condition of anonymity to disclose private talks.

The three smaller companies are aiming to acquire a large part of Lafarge’s operations in the country which include 10 production plants, the sources said.

Brazil’s largest cement makers, Votorantim Cimentos SA and Intercement Brasil SA, also made offers, but had to bid for parts of the businesses due to antitrust restrictions, the people added.

Votorantim has bid for the producing units in the northeastern region, and Intercement for those in the southeastern states of Rio de Janeiro, Espirito Santo and Minas Gerais, according to the sources. Any acquisition is subject to approval by Brazilian antitrust watchdog CADE.

Intercement declined to comment. LafargeHolcim, Votorantim Cimentos, Apodi and Mizu did not respond to requests for comments outside business hours on Saturday.

The sale, managed by the investment banking unit of Itau Unibanco Holding SA (ITUB4.SA), will not go through a second round of bids, and Lafarge will negotiate with each bidder, the sources said.

A deal may be announced in August, they added.

Reporting by Tatiana Bautzer and Carolina Mandl in Sao Paulo; Editing by Richard Chang

Our Standards: The Thomson Reuters Trust Principles.

Related Posts

Property Management in Dubai: Effective Rental Strategies and Choosing a Management Company

“Property Management in Dubai: Effective Rental Strategies and Choosing a Management Company” In Dubai, one of the most dynamically developing regions in the world, the real estate…

In Poland, an 18-year-old Ukrainian ran away from the police and died in an accident, – media

The guy crashed into a roadside pole at high speed. In Poland, an 18-year-old Ukrainian ran away from the police and died in an accident / illustrative…

NATO saw no signs that the Russian Federation was planning an attack on one of the Alliance countries

Bauer recalled that according to Article 3 of the NATO treaty, every country must be able to defend itself. Rob Bauer commented on concerns that Russia is…

The Russian Federation has modernized the Kh-101 missile, doubling its warhead, analysts

The installation of an additional warhead in addition to the conventional high-explosive fragmentation one occurred due to a reduction in the size of the fuel tank. The…

Four people killed by storm in European holiday destinations

The deaths come amid warnings of high winds and rain thanks to Storm Nelson. Rescuers discovered bodies in two separate incidents / photo ua.depositphotos.com Four people, including…

Egg baba: a centuries-old recipe of 24 yolks for Catholic Easter

They like to put it in the Easter basket in Poland. However, many countries have their own variations of “bab”. The woman’s original recipe is associated with…

Leave a Reply

Your email address will not be published. Required fields are marked *