Vicat closes acquisition of Ciplan

Vicat Group has announced the closure of its Ciplan acquisition and now holds a 64.7 per cent stake in the company.

The deal was structured through a reserved capital increase of EUR295m, with the proceeds used to settle a vast majority of Ciplan’s existing debt, according to a press release.

"With this acquisition, Vicat pursues its targeted external growth and geographical diversification strategy, through the incursion into a new emerging market benefitting from strong growth perspectives. In order to fully capture the Brazilian market's growth potential, Vicat will leverage a performing industrial asset base, coupled with strong brand," stated the company.