Peru-based Unión Andina de Cementos (Unacem) has signed a contract with Cementos La Unión and Aridos Jativa, and the Chile’s Inversiones Mel 20 Ltda for the purchase of the full stake of shares of Cementos La Unión in Chile and 100 per cent of the social rights of Inversiones Mel 20.

The contract was signed on December 11 and is subject to compliance with conditions such as approval by the Chilean National Economic Prosecutor's Office. Subject to approval, Unacem will own the 0.3Mta San Antonio plant. The company will also have a premixed concrete unit with concrete plants and trucks with a capacity of 336,000m3 per year.

The total amount of the transaction is US$23m and includes the purchase price and debt of Cementos La Unión.