Yura announces bid to acquire stake in Cementos Bío Bío

Yura Chile SA, part of Peru's Yura (Gloria Group) has announced the start of a public offer for the acquisition of shares in Chile to purchase a stake of up to 20.059 per cent of Cementos Bío Bío SA (CBB).

Yura plans to acquire a maximum of 53m shares of the Chilean cement producer at a price of CLP1092.10/share. The offer will be open for a period of 30 days – until 13 December 2024.

The bid for CBB is part of the Gloria Group's regional expansion strategy. The group seeks to establish a significant presence in the Chilean market without necessarily acquiring full control of the company, according to Chilean business newspaper, Gestión. “The strength of the Chilean market provides the confidence and security for the Gloria Group, through its subsidiaries, to bet on an active participation in this business context,” said Yura Peru.

Yura Chile owns currently 19.9381 per cent of, or 52,680,581 CBB shares.