Hurtado Vicuña on the verge of completing required divestment

Grupo Hurtado Vicuña is expected to be soon completing the divestment of a part of Cementos Bicentenario (BSA) assets, one of the main conditions imposed by Chile’s Fiscalia Nacional Economica (FNE) and its anti-competition authority, TDLC, in terms of the company’s acquisition of Cementos Polpaico shares.

Certain sources suggest that offers have been received for the BSA assets and that due diligence has started with a deal likely to be completed before the end of this month, reports El Diario.

The FNE and TDLC require the sell-off of seven of 26 BSA concrete plants, a deal valued between US$70m-90m. The plants affected are La Serena, San Felipe, Concon, Quilicura, Rancagua, San Fernando and Chillan.