Brazil’s antitrust regulator CADE approved the $1.025 billion sale of Holcim’s local cement business to steelmaker Cia Siderurgica Nacional (CSN) with no restriction, reported Reuters.
The acquisition was first announced in September 2021.
Reuters said the deal is a blow to Brazilian cement maker Cimento Tupi. The privately-owned company contested the transaction stating that it would create competition issues, specifically in the southeastern part of the country.
The Holcim-CSN deal includes five integrated cement plants, four grinding stations, six aggregates sites and 19 ready-mix concrete facilities.