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Votorantim, Holcim seen buying 40% stake in BRC for US$1bn (Brazil)
2011-01-26
Brazilian conglomerate Votorantim or the Brazilian unit of Switzerland's Holcim are the potential buyers of a 40% stake in US-controlled cement maker BRC Cimentos, according to a report by news service Agencia Estado.

 

BRC put the stake up for sale in August for 1.8bn reais (US$1.07bn). Among the other companies showing interest at the time were local construction company Camargo Correa, steelmaker CSN and the Joao Santos cement group. However, Holcim has declined to comment and Votorantim has claimed no knowledge of a deal, the report said.

 

If the 40% is not auctioned in its entirety, the remainder is expected to be sold in an initial public offering (IPO) on the Sao Paulo stock exchange Bovespa by February 2012.

 

BRC is currently building a 700mn-real cement factory in Rosario Oeste in Mato Grosso state. It will have capacity of 2Mt/y and should help boost the group's annual revenue to 3bn reais by 2014.

 

The firm is also planning to build another three facilities with capacities of 2Mt/y apiece for the southeast and north of the country. These will give BRC an overall capacity of 8Mt/y in Brazil within five years.


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