Votorantim Cimentos complete Moroccan divestment

Heidelberg Materials acquire assets formerly owned by Votortantim Cimentos in Morocco 

BRAZILIAN cement giant Votorantim Cimentos have announced the completion of the full sale of their partnership in Morocco, including all assets located in the country, to Heidelberg Materials.

The transaction was closed after fulfilling customary conditions, including approval and clearance by regulatory authorities in Morocco. The effective delivery of the assets and financial settlement have also been completed, the commercial terms of which remain confidential.

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