Vicat has acquired a 64.74% stake in Cimento Planalto, a Brazilian-based supplier whose concrete plant in Brasilia is said to have a total installed cement capacity of 3.2 million tonnes per year.
Vicat, a French manufacturer, says the deal is part of an ambition to target external growth and geographical diversification strategy.
This transaction has been structured through a reserved capital increase of €295 million. Proceeds will be used to settle a vast majority of Ciplan's existing debt. The transaction was funded through debt.
Vicat is to provide more information on the transaction modalities when reporting the group's 2018 financial results, scheduled for 19 February 2019.
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