Loma Negra sale delayed

Loma Negra sale delayed
Published: 13 January 2005

The sale of Loma Negra, Argentina’s largest cement company, to Camargo Correa, the Brazilian holding company, has been delayed because of disagreements over the company’s price. According to Valor, the Brazilian daily newspaper, Loma Negra’s owner Amalia Lacroze de Fortabat raised the asking price for the company from US$1bn  to Pesos$1.2bn. The new price was found too high by Camargo Correa. According to market analysts, Loma Negra’s market value stands at less than US$700m.