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News InterCement may sell Brazilian business

InterCement may sell Brazilian business

Written by Global Cement staff 06 October 2023
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Brazil: InterCement has hired BTG Pactual to help explore ‘capitalisation alternatives’ as part of a proposed restructuring, possibly involving the sale of the group’s Brazilian business. Valor International News has reported that Companhia Siderúrgica Nacional (CSN) Cimentos has signalled its interest in acquiring the business, while Votorantim Cimentos may group together with other cement companies to make a bid. This would entail a division of the assets in order to conform to Brazilian competition laws.

InterCement successfully secured a postponement for payment of its outstanding bank debt in September 2023. It owes net debt of US$1.5bn up to 2027, including a senior note of US$548m due in May 2024. InterCement operates 12.2Mt/yr worth of cement capacity, and produced 8.7Mt of cement in 2022.

Last modified on 11 October 2023
Published in Global Cement News
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  • Intercement
  • Intercement Brasil
  • CSN Cimentos
  • Companhia Siderúrgica Nacional
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  • Votorantim Cimentos
  • restructuring
  • consultant
  • BTG Pactual
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  • business
  • Competition
  • Cade
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