Huaxin signed an agreement to acquire CSN Cimentos, which holds about 21% of the national market; the deal is still subject to regulatory approvals and is part of CSN’s plan to reduce debt. One of China’s largest construction materials companies announced the purchase of Brazil’s second-largest cement manufacturer. Huaxin Building Materials Group signed an agreement to acquire 99.99% of CSN Cimentos, a subsidiary of Companhia Siderúrgica Nacional (CSN), in a deal valued at R$ 12,7 billion.
The contract was signed on Saturday (7) and announced to the market on Sunday (8). The deal marks Huaxin’s entry into cement production in Brazil and expands the presence of Chinese groups in strategic sectors of the national economy.
The contract was signed on Saturday (7) and announced to the market on Sunday (8). The deal marks Huaxin’s entry into cement production in Brazil and expands the presence of Chinese groups in strategic sectors of the national economy.
