Colombia’s largest cement maker  Cementos Argos SA and its holding company Inversiones Argos SA  have agreed to sell the Merilectrica power generation plant to holding company Colinversiones SA  for US$112m, according to a filing to the securities regulator.  
 
The boards of Cementos Argos, which owns 80% of Merilectrica, and Argos, which owns the remaining 20%, accepted an offer from Colinversiones, the filing said late Wednesday.  
 
The transaction still depends on a process of due-diligence, the filing said. 
 
Cementos Argos will use the proceeds of the sale to expand and improve its cement business.  
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