The Brazilian antitrust authority, CADE, in accordance to the agreement disclosed on 26 October 2020, has confirmed Brazilian Companhia Nacional de Cimento’s (CNC) purchase of all the businesses of the CRH group operating in Brazil (CRH Brasil and its subsidiaries).
CNC is a wholly-owned subsidiary of BCPAR, holding company in which Buzzi Unicem owns 50 per cent of the share capital in a joint venture with Grupo Ricardo Brennand. The consideration paid takes into account the price originally agreed of US$21m and the changes in the financial position of the acquired companies occurred from the signing of the agreement.
As planned, Buzzi Unicem has financed CNC, on an arm’s length basis, for an amount of US$242m to support the whole transaction.
The CRH companies operating in Brazil consist of three integrated cement plants and two grinding plants, all located in the southeast area of the country. The acquisition will result in a significant strengthening of BCPAR, which also operates in the same market area. In 2020 CRH Brasil sold approximately 2.8Mt of cement.
