Votorantim Cimentos divests business in Tunisia

Votorantim Cimentos signed today an agreement for the full sale of its assets located in Tunisia to Sinoma Cement Co., Ltd, a cement based building materials enterprise headquartered in China.

The completion of the transaction, including the effective transfer of the assets in the country and financial liquidation, is subject to the fulfilment of customary precedent conditions. These conditions include approval by regulatory authorities in China, Tunisia and in the Common Market for Eastern and Southern Africa (Comesa). The commercial terms of the transaction are confidential.

This divestment is aligned with Votorantim Cimentos’ portfolio management strategy, which seeks to maximize value for its shareholders and balance the geographic positioning between mature and emerging markets, optimizing the risk management of the company’s consolidated portfolio.

During the analysis by the local regulatory authorities, all Votorantim Cimentos’ plants and offices in Tunisia will continue to operate as usual.