Spain-based Cementos La Unión has closed a deal to sell its operations in Chile to UNACEM, following approval from the National Economic Prosecutor of Chile (FNE) last March.

The transaction is valued at US$23m, which includes both the value of the purchase and the existing debt of the subsidiary. 

The acquisition will see the transfer of a 300,000tpa grinding and packing plant located in San Antonio, Valparaíso region, as well as two concrete plants.