Brazil: Steelmaker CSN is set to start receiving binding offers for its cement unit, CSN Cimentos, in just ‘a few weeks,’ according to the company's chief financial officer Marco Rabello. "The binding phase should begin in just over a month, shortly after the receipt of non-binding offers and the selection of the institutions that will advance to the next round," he said, although he did not disclose values or the names of potential buyers. Local sources have previously linked Votorantim Cimentos, Huaxin Cement, Anhui Conch Cement, Sinoma International and J&F, which owns a meat packing company, as potential buyers. The process is expected to be highly competitive and may also include contenders from Italy and Mexico, according to sources quoted by Reuters.
Rabello said that the closing and disbursement of funds related to the cement unit sale could be reached by the end of 2026, but that the transaction would need to be approved by the Brazilian competition regulator, and the timeline could vary depending on the buyer.
