Holcim to sell Brazilian business to CSN for $1.025 billion enterprise value

ZURICH (Reuters) – Holcim said on Friday it had agreed sell its business in Brazil to Companhia Siderúrgica Nacional (CSN), saying the divestment for an enterprise value of $1.025 billion would significantly reduce its debt ratio.

“This divestment is another step in our transformation to become the global leader in innovative and sustainable building solutions giving us the flexibility to continue investing in attractive growth opportunities,” Holcim Chief Executive Jan Jenisch said in a statement.

Reuters reported earlier on Friday the Brazilian steelmaker’s cement unit was close to acquiring the Swiss firm’s assets in the country.

The divestment includes Holcim’s five integrated cement plants, four grinding stations, six aggregates sites and 19 ready-mix concrete facilities, the world’s largest cement maker said.

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