BOGOTA, April 9 Colombia's largest cement maker,
Argos, said on Wednesday it will pay 50 million euros
for a French Guiana company owned in equal parts by Lafarge
and Holcim, two days after those companies
announced a merger.
Argos said it would buy Ciments Guyanais - including its
clinker mill and port near the French Guiana capital of Cayenne.
Holcim said on Monday that it would buy Lafarge, creating
the world's largest cement maker, with combined annual sales of
$44 billion. The two companies, which operate in 90 countries,
are obliged to sell $5 billion euros worth of assets to comply
with monopoly regulations.
"This new acquisition in French Guiana harmoniously
compliments our network of assets in the region, especially for
its proximity to the mill in Suriname and the cement terminals
in the Antilles," the president of Argos, Jorge Mario Velasquez,
said in a statement.
He added that the purchase will be subject to regulatory
Argos also operates in the United States, Panama and the
Caribbean. It purchased U.S.-based Vulcan Materials in January
for $720 million, which doubled its cement production capacity
in that country.
Argos is controlled by Grupo Argos, a holding
company that is part of Colombia's largest industrial
conglomerate, the Grupo Empresarial Antioqueno, or GEA.
(Reporting by Nelson Bocanegra; Writing by Julia Symmes Cobb;
Editing by Dan Grebler)