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Holcim To Sell Its Business In Brazil To CSN For Enterprise Value Of $1.025 Bln

Holcim AG (HCMLY.PK,HCMLF.PK), formerly known as LafargeHolcim, said that it has agreed to sell its business in Brazil to CSN or Companhia Siderúrgica Nacional for an enterprise value of $1.025 billion.

The sale includes Holcim's five integrated cement plants, four grinding stations, six aggregates sites and 19 ready-mix concrete facilities.

The swiss building material company noted that it will use the proceeds from the divestment to invest in its Solutions & Products business, building on the Firestone acquisition.

Holcim said it divests its activities in Brazil, but Latin America is a core strategic growth region for the company.

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