On 26 July Votorantim Cimentos signed an agreement for the full sale of its Tunisian assets to Sinoma Cement Co Ltd, a China-based building materials enterprise.
The sale includes the effective transfer of Votorantim’s assets in the country and financial liquidation and is subject to the fulfilment of standard transaction conditions. These include approval by regulatory authorities in China, Tunisia and the Common Market for Eastern and Southern Africa. Further details of the divestment have been kept confidential.
The company’s divestment is aligned with its wider portfolio management strategy, which aims to boost value for its shareholders as well as balance the regional positioning between mature and emerging markets. This will minimise the risk incurred by the company.
