Holcim (OTCPK:HCMLF) has inked an agreement with CSN (Companhia Siderúrgica Nacional) for the divestment of its business in Brazil for an enterprise value of 1.025B.
The divestment includes Holcim’s five integrated cement plants, four grinding stations, six aggregates sites and 19 ready-mix concrete facilities.
The transaction strengthens the company’s balance sheet, significantly reducing its debt ratio.
Net proceeds will be used to invest in its Solutions & Products business, building on the Firestone acquisition.