Argentina/Brazil: A consortium led by LATCEM, Redwood Capital Management and Moneda Patria Investments has taken control of Brazil-based InterCement and indirect control of Argentina-based Loma Negra. The move follows the completion of the second phase of a judicial reorganisation process prompted by InterCement’s high level of debt, according to Bloomberg Línea News. The trio of investors has injected US$110m into InterCement. They now hold around 39%, 27% and 24% respectively of the company. InterCement holds a 52% direct controlling share in Loma Negra via a subsidiary. Marcelo Mindlin, the controller of LATCEM, has been appointed as the president of Loma Negra.
Consortium takes control of InterCement and Loma Negra
