Brazil’s antitrust regulator CADE on Wednesday approved the sale of Holcim’s local cement business to steelmaker Cia Siderurgica Nacional with no restriction, allowing the $1.025 billion deal to be completed.
CSN first announced the acquisition of LafargeHolcim Brasil in September 2021 as Switzerland-based Holcim, the world’s largest cement maker, tries to diversify away from its core business.
CADE’s board of directors gave their green light to the sale in a unanimous 7-0 vote.
Technical staff at CADE had already approved the deal earlier this year, but the board could still overrule the decision at its Wednesday meeting.
The move represents a blow to Brazilian cement maker Cimento Tupi SA, a privately-owned company that contested the deal saying it would create competition issues mainly in Southeastern Brazil.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
FCC Votes to Restore Net Neutrality Rules
Apr 25, 2024 by
nhoch@pymnts.com
Apple Rejects Spotify’s Updated App Over In-App Pricing Disclosure
Apr 25, 2024 by
CPI
FCC Set to Reinstate Net Neutrality Rules Today
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI