By Adriano Marchese
The Brazilian Companhia Nacional de Cimento said Tuesday that it has acquired the businesses of CRH PLC in Brazil for an agreed price of $218 million.
The company --a wholly owned subsidiary of BCPAR-- said that the acquisition will strengthen its production in Brazil. In 2019, CRH Brazil sold approximately 2.5 million tons of cement.
Italy's Buzzi Unicem, which holds a 50% share in BCPAR in a joint venture with Grupo Ricardo Brennand, will finance the Companhia Nacional de Cimento, at an arm's length basis, for a maximum amount equal to the expected consideration.
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(END) Dow Jones Newswires