Buzzi gains control of Cimento Nacional in Brazil
Published by Evie Gardner,
Editorial Assistant
World Cement,
Between 16 – 17 May, Buzzi SpA received notification of the exercise of the put option granted as part of the existing agreements to Grupo Ricardo Brennand.
This concerned the 50% stake in NCPAR (formerly BCPAR), the equal joint venture through which Buzzi has been operating in Brazil since 2018. As a result of this exercise Buzzi will acquire 100% control of NCPAR.
NCPAR owns five fully integrated cement plants and two grinding centres, with a total production capacity of over 7.2 million tpy.
The execution of the sale agreement, following the exercise of the put option, is subject to approval by the Brazilian antitrust authority (CADE). It is believed that the transfer of the stake will likely take place by the end of the current fiscal year.
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Read the article online at: https://www.worldcement.com/the-americas/22052024/buzzi-gains-control-of-cimento-nacional-in-brazil/
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