Vicat announces the closing of the Ciplan acquisition in Brazil
Paris La Défense, January 21st, 2019: The Vicat Group 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.