Brazil’s CSN enters into agreement with InterCement

InterCement Apiai SP

Brazil’s Companhia Siderúrgica Nacional (CSN) has entered into an exclusive agreement to negotiate the acquisition of InterCement’s operations in Argentina and Brazil (photo: Apiai plant in SP; we reported here 27.2.2024). The exclusive talks will run until July 12th, while CSN will conduct a due diligence process. Local sources indicate that CSN had offered around R$6 bn for the assets and would have to take InterCement’s debts and carry out negotiations with the company’s creditors in the acquisition process. In 2021 CSN already acquired the assets of Holcim in Brazil and expanded its cement capacity by about 10 Mta to become Brazil’s third largest producer.