Vicat announces the closing of the Ciplan acquisition in Brazil
Paris La Défense, January 21st, 2019: The Vicat Group (Euronext Paris: FR0000031775 - VCT) announces today that it has finalized the transaction with Cimento Planalto ("Ciplan") shareholders. Vicat now holds a majority stake of 64,74% of the company.
This transaction has been structured through a reserved capital increase of €295 million. Proceeds will be used to settle a vast majority of Ciplan's existing debt. The transaction was funded through debt.
Ciplan operates a modern plant, in the vicinity of Brasilia, with a total installed cement capacity of 3.2 million tons per year. It is backed by high quality and abundant mineral resources. The Company also boasts 9 ready-mixed concrete plants and 5 quarries (including 2 aggregates quarries).
With this acquisition, Vicat pursues its targeted external growth and geographical diversification strategy, through the incursion into a new emerging market benefitting from strong growth perspectives. In order to fully capture the Brazilian market's growth potential, Vicat will leverage a performing industrial asset base, coupled with strong brand.
Vicat will provide more information on the company and the transaction modalities when reporting the Group's 2018 financial results, scheduled for February 19th, 2019.