JONA (dpa-AFX) - Holcim AG (HCMLY.PK, HCMLF.PK), formerly known as LafargeHolcim, said that it has agreed to sell its business in Brazil to CSN or Companhia Siderúrgica Nacional for an enterprise value of $1.025 billion.
The sale includes Holcim's five integrated cement plants, four grinding stations, six aggregates sites and 19 ready-mix concrete facilities.
The swiss building material company noted that it will use the proceeds from the divestment to invest in its Solutions & Products business, building on the Firestone acquisition.
Holcim said it divests its activities in Brazil, but Latin America is a core strategic growth region for the company.
Copyright RTT News/dpa-AFX