Cementos Argos will not ‘do battle’ for LafargeHolcim divestments in Brazil

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Brazil: Colombia's Cementos Argos has decided not to 'do battle' for cement-sector assets in Brazil that currently belong to the European giants Lafarge and Holcim. The Colombian multinational has informed the Superintendencia Financiera that it does not see such a purchase as being likely to generate the value its investments would expect.

Thus, Argos puts an end to three months of expectation regarding a possible debut in Brazil for the company. The assets in Brazil's Sudeste region are up for grabs so that the merger can meet with anti-monopoly requirements and amount to some US$1bn. Argos had been in consultation with local financial giant Itau concerning a possible bid. The Colombian cement group's foreign eye will most likely focus now on Mexico, another nation mentioned fondly by company president Jorge Mario Velasquez.

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URL: https://globalcement.com/news/item/3138-cementos-argos-will-not-do-battle-for-lafargeholcim-divestments-in-brazil

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