Brazilian cement makers CSN, Apodi, Mizu, Votorantim, Intercement bid for LafargeHolcim assets -sources

Titan SA

31/07/2021 19:55

By Tatiana Bautzer and Carolina Mandl
    SAO PAULO, July 30 (Reuters) - Brazilian cement makers CSN
Cimentos, a subsidiary of steelmaker CSN SA  CSNA3.SA ; Cimentos
Mizu; and Cimento Apodi, in which Titan Cement International
 TITC.BR  has a stake, are among the bidders for assets
LafargeHolcim Ltd has put for sale, two people with knowledge of
the matter said.
    Lafarge, the world's largest cement maker, expects proceeds
of $1 billion to $1.5 billion, the people said on condition of
anonymity to disclose private talks.
    The three smaller companies are aiming to acquire a large
part of Lafarge's operations in the country which include 10
production plants, the sources said.
    Brazil's largest cement makers, Votorantim Cimentos SA and
Intercement Brasil SA, also made offers, but had to bid for
parts of the businesses due to antitrust restrictions, the
people added.
    Votorantim has bid for the producing units in the
northeastern region, and Intercement for those in the
southeastern states of Rio de Janeiro, Espirito Santo and Minas
Gerais, according to the sources. Any acquisition is subject to
approval by Brazilian antitrust watchdog CADE.
    Intercement declined to comment. LafargeHolcim, Votorantim
Cimentos, Apodi and Mizu did not respond to requests for
comments outside business hours on Saturday.
    The sale, managed by the investment banking unit of Itau
Unibanco Holding SA  ITUB4.SA , will not go through a second
round of bids, and Lafarge will negotiate with each bidder, the
sources said.
    A deal may be announced in August, they added.

 (Reporting by Tatiana Bautzer and Carolina Mandl in Sao Paulo;
Editing by Richard Chang)
 ((tatiana.bautzer@tr.com; Tel: +55-11-5644-7756; Mob:
+55-119-4210-4173; Reuters Messaging:
tatiana.bautzer.thomsonreuters.com@reuters.net))