Companhia Siderúrgica Nacional (CSN), one of Brazil’s leading steel producers, is moving forward in a significant expansion of its cement operations. CSN has entered into an exclusive agreement to negotiate the potential acquisition of InterCement’s facilities in Argentina and Brazil. This strategic move follows the exclusive talks agreement, which will last until July 12, allowing CSN to conduct a thorough due diligence process.
Local sources have reported that CSN’s offer for InterCement’s assets is around R$6 billion. The deal also requires CSN to assume InterCement’s existing debts and engage in negotiations with the company’s creditors. This negotiation reflects CSN’s aggressive strategy to expand its footprint in the cement industry, having already increased its capacity by about 10 million tonnes annually after acquiring assets from Holcim in Brazil in 2021. This acquisition positioned CSN as the third-largest cement producer in Brazil.
The potential acquisition includes the Apiai plant in São Paulo, previously highlighted on February 27, 2024, as part of InterCement’s extensive operational network. The ongoing negotiations and due diligence are closely watched by industry analysts, as they will significantly impact the dynamics of the cement market in South America.
*News sourced from https://ccf2up.com/
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