Holcim Brazil asset sale expected

Holcim Brazil asset sale expected
02 August 2021

LafargeHolcim (Holcim group) is understood to be considering the sale of its assets in Brazil and CSN Cimentos, Cimentos Mizu and Cement Apodi (Titan Cement joint venture) are believed to be among the potential bidders.

A report by Reuters says, Holcim would be looking for proceeds if US$1-1.5bn from the sale. Reuters spoke to two people said to be in the know about the potential sale and bidders. The sale is likely to see several of the named Brazilian cement producers set to acquire part of the multinational’s Brazilian assets, which include 10 cement plants.

Votorantim Cimentos SA and Intercement Brasil SA are also reported to have made bids to acquire just parts of the assets due to antitrust restrictions, according to Reuters' sources. Votorantim has bid for the producing units in the northeast, and Intercement for those in the southeastern states of Rio de Janeiro, Espírito Santo and Minas Gerais, according to the sources.

Any acquisition is subject to approval by Brazilian antitrust watchdog CADE.

Published under Cement News