InterCement signs exclusivity agreement with CSN

InterCement signs exclusivity agreement with CSN
03 May 2024

Following its market announcement of 23 February 2024, InterCement Participações SA announced that in the context of the competitive process, organised by Banco BTG Pactual, it has carried an agreement on 1 May 2024 to provide for exclusivity until 12 July 2024 to Companhia Siderúrgica Nacional (CSN) in terms of the potential acquisition of a 100 per cent stake in InterCement's stock.

However, no document has been signed that generates any binding obligation or commitment on the part of the company or its subsidiaries, said InterCement in a market announcement.

InterCement has been courted by CSN, Huaxin Cement and Votorantim Cimentos as they make bids for the company's assets. In addition to its cement plants in Brazil, InterCement owns a 51 per cent stake Loma Negra in Argentina as well as a minor shareholding in Cementos Del Plata SA, Uruguay.

Published under Cement News