By Adriano Marchese

The Brazilian Companhia Nacional de Cimento said Tuesday that it has acquired the businesses of CRH PLC in Brazil for an agreed price of $218 million.

The company --a wholly owned subsidiary of BCPAR-- said that the acquisition will strengthen its production in Brazil. In 2019, CRH Brazil sold approximately 2.5 million tons of cement.

Italy's Buzzi Unicem, which holds a 50% share in BCPAR in a joint venture with Grupo Ricardo Brennand, will finance the Companhia Nacional de Cimento, at an arm's length basis, for a maximum amount equal to the expected consideration.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

October 27, 2020 12:49 ET (16:49 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
Buzzi (BIT:BZU)
Historical Stock Chart
From Nov 2024 to Dec 2024 Click Here for more Buzzi Charts.
Buzzi (BIT:BZU)
Historical Stock Chart
From Dec 2023 to Dec 2024 Click Here for more Buzzi Charts.