The historic Argentine cement company Loma Negra, founded in 1926 by Alfredo Fortabat, is about to have a new owner. Businessman Marcelo Mindlin, head of Pampa Energía and with investments in Mendoza, will take control of the company following the departure of the Brazilian group InterCement.
InterCement's role
InterCement, a subsidiary of the Mover group (formerly Camargo Correa), is currently the owner of Loma Negra. However, the company entered creditor protection last December, which accelerated the decision to divest its assets in Argentina. The transaction includes the modern L’Amalí plant in Olavarría, Neuquén, and the Marquesado plant in San Juan.
The negotiation with Mindlin
The transaction has been under negotiation for almost two months and, according to sources close to the matter, the central part of the agreement has already been finalized. The final transfer is expected to be completed before the end of the year, after pending legal details are solved.
