Camargo Correa in talks to sell stake in Argentinian cement assets

Reuters reports that an anonymous source has disclosed that Brazilian engineering firm Camargo Correa has opened talks with a view to selling a 40 per cent stake in its Argentinian cement firm, Loma Negra Cia Industrial.

Camargo Correa has raised US$2.5bn this year from asset sales, and has been examining the feasibility of selling all or part of its stake in Loma Negra and Brazil’s InterCement for the past two years.

Sources close to the company said that Camargo Correa had previously tried and failed to find interested parties to take a minority stake in InterCement.