Offers were also made by Brazil's largest cement producers, Votorantime Cimentos SA and Intercement Brasil SA, but due to antitrust regulations, they were only able to bid for parts of the business.
Votorantim reportedly made a bid for units in the northeastern region, and Intercement bid for units in the southeastern states of Rio de Janeiro, Espirito Santo and Minas Gerais.
Sources speaking to Reuters on the condition of anonymity stated that Lafarge expects to generate proceeds of US$1 – 1.5 billion from the sale of its assets in the country.
Any purchase is subject to approval by Brazilian antitrust watchdog CADE.
This story is based on information provided by Reuters.
The original article can be found here. The authors are: Tatiana Bautzer & Carolina Mandl
Read the article online at: https://www.worldcement.com/the-americas/02082021/brazilian-cement-makers-bid-for-holcim-assets/
