The Vicat Group has announced that it has finalised a transaction with Cimento Planalto (Ciplan) shareholders. Vicat now holds a 64.74% majority stake of the company.
Structured through a reverse capital increase of €295 million, the proceeds of the transaction will be used to settle the majority of Ciplan’s existing debt. The transaction was funded through debt.
In the vicinity of Brasilia, Ciplan operates a modern plant, with a total installed capacity of 3.2 million tpy. It is backed by abundant high quality mineral resources. The company also has nine ready-mixed concrete plants and five quarries (including two aggregates quarries).
With this acquisition, Vicat is pursuing its targeted external growth and geographical diversification strategy, through incursion into a new emerging market that is benefitting from strong growth perspectives. Vicat plans to leverage a performing industrial asset base, coupled with a strong brand, in order to fully capture the Brazilian market’s growth potential.
Vicat will provide more information on the company and the transaction modalities when reporting on the Group’s 2018 financial results.
Read the article online at: https://www.worldcement.com/the-americas/24012019/vicat-finalises-ciplan-acquisition/