Chile
News

Paper: Cemex to sell Cementos Bío Bío stake

Bnamericas Published: Wednesday, April 13, 2005
Mexican cement giant Cemex (NYSE: CX) has hired Santander Investment to seek buyers for its 11.9% stake in Chilean cement company Cementos Bío Bío, Chilean newspaper La Tercera reported. Cemex purchased its stake in 1999 for US$34mn. The sale, according to sector experts, would be due to the refusal of Cementos' majority stakeholder - Chile's Briones group (43%) - to sell its share, according to the paper. Further, the sale, which could represent US$80mn, would be part of Cemex's reorganization of its international assets, said the report. Indeed, a few weeks ago Cemex concluded the sale of two of its US plants to Brazilian conglomerate Grupo Votorantim, and prior to that purchased British cement maker RMC. Cementos posted a 24.4bn-peso (US$42.6mn) consolidated net profit in 2004, up 18.7% from the previous year. It is one of Chile's top three cement producers. Neither Cemex nor Cementos responded to Bnamericas' inquiries by time of publishing.

To continue reading, subscribe to BNamericas to get all the information in this article and access to related news items and reports.

Subscribe to BNamericas and gain access to thousands of project profiles, key contacts and news.

Other projects in: Infrastructure (Chile)

Get critical information about thousands of Infrastructure projects in Latin America: what stages they're in, capex, related companies, contacts and more.

  • Project: Spiders
  • Current stage: Blurred
  • Updated: 5 months ago

Other companies in: Infrastructure (Chile)

Get critical information about thousands of Infrastructure companies in Latin America: their projects, contacts, shareholders, related news and more.

  • Company: Ingeniar S.A.
  • Established in 2004, Ingeniar S.A. is a Chilean consulting firm that specializes in logistics, transport and industrial architecture. The company offers a range of services whic...