Votorantim Cimentos has closed the full sale of its assets located in Tunisia to Sinoma Cement Co Ltd (CNBM), a cement-based building materials enterprise headquartered in China.
The transaction was closed after fulfilling customary precedent conditions, including approvals by regulatory authorities in China, Tunisia, and the Common Market for eastern and southern Africa (COMESA). The effective delivery of the assets and financial settlement has also been completed.
This divestment is aligned with Votorantim Cimentos’ portfolio management strategy, which seeks to maximise value for its shareholders and balance the geographic positioning between mature and emerging markets, optimising the risk management of the company's consolidated portfolio.
