Votorantim Cimentos signed today an agreement for the full sale of its assets located in Tunisia to Sinoma Cement Co., Ltd, a cement based building materials enterprise headquartered in China.
The completion of the transaction, including the effective transfer of the assets in the country and financial liquidation, is subject to the fulfilment of customary precedent conditions. These conditions include approval by regulatory authorities in China, Tunisia and in the Common Market for Eastern and Southern Africa (Comesa). The commercial terms of the transaction are confidential.
This divestment is aligned with Votorantim Cimentos’ portfolio management strategy, which seeks to maximize value for its shareholders and balance the geographic positioning between mature and emerging markets, optimizing the risk management of the company’s consolidated portfolio.
During the analysis by the local regulatory authorities, all Votorantim Cimentos’ plants and offices in Tunisia will continue to operate as usual.
About Votorantim Cimentos
Votorantim Cimentos is a building materials and sustainable solutions company with over 13,000 employees. Its building materials portfolio includes not only cements, but also concretes, mortars and aggregates. The company also operates in the areas of agricultural solutions, waste management and co-processing. Votorantim Cimentos’ sites are strategically located in proximity to the most important growing consumer markets in 10 countries, in addition to Brazil: Argentina, Bolivia, Canada, Luxembourg, Morocco, Spain, Tunisia, Turkey, United States and Uruguay. More information at www.votorantimcimentos.com.br
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