Colombia's Superintendencia de Industria y Comercio has started reviewing Holcim Ltd.'s acquisition of Cemex Colombia assets. The US$485 million deal would create a combined market share over 20% in grey cement and ready-mix concrete.
Holcim Ltd., parent of Holcim Colombia, asked Colombia's Superintendencia de Industria y Comercio (SIC) to approve acquiring specific Cemex assets in the country, including cement, ready-mix concrete, aggregates, mortars, and additives. The deal, signed in early March, includes the Caracolito cement plant, Santa Rosa grinding station, and over 20 additional plants.
Valued at about US$485 million, the transaction would boost Holcim's net sales by around US$360 million this year and raise its production centers in Colombia to 20. Cemex plans to divest local operations through multiple deals with various buyers.
The companies acknowledge the merger would exceed 20% market share in grey cement and ready-mix concrete but note strong competition from Cementos Argos, Alión, and Ultracem in cement, and Polimix or Corona in other areas. Holcim claims it won't close markets and Cemex will remain active, enhancing competition.
The SIC set a 10-business-day window from March 6 for third parties to submit relevant information for the review.