CRH seeking buyers for its Brazilian business

CRH, Ireland, is selling its cement business in Brazil, which it acquired in 2015 as part of a portfolio of assets bought from Lafarge and Holcim during their merger, according to reports in Valor Economico.

CRH Brasil Participacoes S.A. operates three integrated plants and one grinding mill in the states of Minas Gerais and Rio de Janeiro with a total cement production capacity of 2.75Mta.

CRH has reportedly hired Citigroup to help find buyers for the Brazilian assets. The bank is already in contact with potential investors, both from Brazil and abroad.