© Reuters. FILE PHOTO: The emblem of LafargeHolcim, the world’s largest cement maker, is seen at its headquarters in Zurich, Switzerland, March 2, 2017. REUTERS/Arnd Wiegmann/File Picture
By Tatiana Bautzer and Carolina Mandl
SAO PAULO (Reuters) – Brazilian cement makers CSN Cimentos, a subsidiary of steelmaker CSN SA; Cimentos Mizu; and Cimento Apodi, during which Titan Cement Worldwide has a stake, are among the many bidders for property LafargeHolcim (OTC:) Ltd has put on the market, two folks with data of the matter mentioned.
Lafarge, the world’s largest cement maker, expects proceeds of $1 billion to $1.5 billion, the folks mentioned on situation of anonymity to reveal personal talks.
The three smaller firms are aiming to accumulate a big a part of Lafarge’s operations within the nation which embody 10 manufacturing vegetation, the sources mentioned.
Brazil’s largest cement makers, Votorantim Cimentos SA and Intercement Brasil SA, additionally made affords, however needed to bid for elements of the companies because of antitrust restrictions, the folks added.
Votorantim has bid for the manufacturing models within the northeastern area, and Intercement for these within the southeastern states of Rio de Janeiro, Espirito Santo and Minas Gerais, in keeping with the sources. Any acquisition is topic to approval by Brazilian antitrust watchdog CADE.
Intercement declined to remark. LafargeHolcim, Votorantim Cimentos, Apodi and Mizu didn’t reply to requests for feedback exterior enterprise hours on Saturday.
The sale, managed by the funding banking unit of Itau Unibanco Holding SA, is not going to undergo a second spherical of bids, and Lafarge will negotiate with every bidder, the sources mentioned.
A deal could also be introduced in August, they added.
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