Votorantim Cimentos divests business in Morocco
Published by David Bizley,
Editor
World Cement,
Votorantim Cimentos has signed an agreement for the full sale of its partnership in Morocco with all assets located in the country to Heidelberg Materials.
The completion of this transaction, including the effective transfer of operations in the country and financial liquidation, is subject to the fulfilment of customary precedent conditions. These conditions include approval and clearance by Moroccan Merger Control Authority. The commercial terms of the transaction remain confidential.
This divestment is aligned with Votorantim Cimentos’ portfolio management strategy, which seeks to maximise 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 Morocco will continue to operate as usual.
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Read the article online at: https://www.worldcement.com/africa-middle-east/16092024/votorantim-cimentos-divests-business-in-morocco/
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