Argentina: InterCement, the Brazilian group owning Loma Negra, has extended an exclusivity period with Companhia Siderúrgica Nacional (CSN) until 12 August 2024 to finalise the sale of its assets. Despite no firm commitment to sell, this move sidelines local investor Marcelo Mindlin's bid.
InterCement said in a statement "There is no signed document that generates any firm obligation or commitment on its part, its shareholder, and/or its subsidiaries in connection with the potential transaction."
According to CE Noticias Financieras, InterCement is under financial strain with debts of US$1.6bn. It is continuing to negotiate with creditors and strategise asset divestments.
