Cement producers CSN, Apodi, Mizu, Votorantim and Intercement bid for LafargeHolcim assets in Brazil, sources say – ISTOÉ MONEY

By Tatiana Bautzer and Carolina Mandl

SAO PAULO (Reuters) – Brazilian cement companies CSN Cimentos, a subsidiary of Cia Siderurgica Nacional, Cimentos Mizu and Cimento Apodi, in which Titan Cement International has a stake, are among those interested in LafargeHolcim’s assets, according to two people with knowledge of the matter .

The three smaller companies made offers for a greater volume of assets at Lafarge, which has 10 industrial units in the country, according to the sources, who requested anonymity in order to reveal confidential conversations.

The largest Brazilian cement companies, Votorantim Cimentos SA and Intercement Brasil SA, also presented offers, but only for parts of the business they are allowed to acquire for competitive reasons.

Votorantim presented an offer for units in the Northeast and Intercement, for units in Rio, Espírito Santo and Minas Gerais, according to the sources. The purchase of these parts could be allowed by Cade.

The sale process, which is being coordinated by Itau BBA, should not have a second round of proposals. Lafarge is expected to negotiate directly with interested parties and announce a winner or winners in August, according to the sources.

Lafarge expects to raise between $1 billion and $1.5 billion from the sale of its operations in Brazil, they said.

LafargeHolcim, Votorantim, Apodi and Mizu did not respond to requests for comment made on Saturday. Intercement declined to comment.

(Reporting by Tatiana Bautzer and Carolina Mandl in São Paulo)

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source https://pledgetimes.com/cement-producers-csn-apodi-mizu-votorantim-and-intercement-bid-for-lafargeholcim-assets-in-brazil-sources-say-istoe-money/