Cementos Molins of Spain plans the acquisition of a majority stake in Bolivia's Cementos Itacamba. The purchase is expected to take place via Spain-based Yacuces, a joint venture with Brazil-based Votorantim Cimentos, which is also its associate in Argentina (Cementos Avellaneda) and Uruguay (Cementos Artigas).
The first step will be an agreement to buy 66.7 per cent of Itacamba Cementos, which currently runs a cement mill in Germán Busch province. Yacuces has agreed to pay US$18.6m for the stake while the local Compañía de Cemento Camba maintains a shareholding of 33.3 per cent.
Cementos Itacamba intends to invest US$220m in a new 0.9Mta cement factory in the country. The project will be financed by the new shareholders.
