Votorantim and Daewoo eye Gallardo assets

Votorantim and Daewoo eye Gallardo assets
Published: 05 October 2011

Brazil’s Votorantim and South Korea-based Daewoo are interested in acquiring the cement and steel assets of Grupo Industrial Gallardo.

The new potential buyers in particular have set their sights on Balboa Cement in Alconera, the German steel business Stahlwerk Thuringen and newsprint producer Papresa’s Guipuzcoa plant.

The interest follows the break-up of negotiations between the Gallardo group and Brazil’s CSN on 16 September when the latter announced it would back down from the deal signed with Gallardo in May.