Peru-based Unacem reported that its general meeting of shareholders will evaluate the proposal between the company and the Investment and Administration Trade Union, Inversiones Andino and Inmobilaria Pronto.

The cement company explained that the main objective of the merger is to consolidate in Unacem the knowledge, strategies, experiences, specialisations, rights and other assets developed and managed by the three societies that would be absorbed. It also seeks to extinguish the contracts for services provided by the Investment and Administration Syndicate and Inversiones Andino to Unacem and its subsidiaries, achieve greater cost efficiency and improve the net debt/EBITDA ratio.