12 jul THE LATIN AMERICAN LAWYER – VBSO advises Intercement on the sale of its business in Africa
VBSO Advogados advised to the Brazilian group Intercement Participações in the process of selling its businesses in Mozambique and South Africa to Chinese company Huaxin Cement Co. Ltd.
The agreement establishes the value of the “Operation Africa” companies at $265 million. This sale contributes to Intercement’s liability management plans, as the group seeks to reaffirm its focus on its core markets in South America.
The transaction was advised by the law firms Uría Menéndez in Europe and Webber Wentzel in South Africa and is subject to standard preconditions, including regulatory approvals in China, Mozambique, and South Africa.
Upon completion of this sale, Intercement Participações will become the owner of 23 cement factories, with a combined installed capacity of approximately 29 million tons per year.
VBSO relied on led partner Renata Simon (pictured) and lawyer Patricia Catache Mancini.
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