Holcim Resists Huaxin Bid for CSN Brazil Cement Unit, Holding 42% Stake
Updated
Updated · Bloomberg · Jun 16
Holcim Resists Huaxin Bid for CSN Brazil Cement Unit, Holding 42% Stake
2 articles · Updated · Bloomberg · Jun 16
Summary
Holcim has signaled it does not support Huaxin Cement moving to the next phase of CSN’s sale process for its Brazil cement unit, complicating the Chinese bidder’s pursuit of the asset.
The resistance matters because Holcim owns about 42% of Huaxin and previously sold the same Brazilian assets to CSN in 2021, giving it unusual influence over the proposed deal.
No final decision has been made, according to people familiar with the talks, and Huaxin remains very interested in the business despite the shareholder pushback.
The dispute raises fresh uncertainty over CSN Cement’s sale process, with a key bidder now facing internal opposition rather than only competition from rival buyers.