Argos to not bid for Lafarge/Holcim Brazilian assets

Cementos Argos has decided not to not bid for the Brazilian assets that Lafarge and Holcim have put up for sale ahead of their planned merger.

Colombia’s largest cement producer has informed the Superintendencia Financiera that it does not see such a purchase as being likely to generate the value its investments would expect. Argos had been in consultation with Itau Unibanco concerning a possible bid.