Yura Chile Sells Cementos Bío Bío Stake for $100M+
News Context
At a glance
- Here's a summary of the key data from the provided text:
- * Yura (Peruvian cement company, part of the Gloria Group) no longer plans to purchase Bío Bío Cementos (CBB) in Chile.
Here’s a summary of the key data from the provided text:
* Yura (Peruvian cement company, part of the Gloria Group) no longer plans to purchase Bío Bío Cementos (CBB) in Chile. An American company that had signed an agreement with Bío Bío Cementos has withdrawn, freeing up Yura.
* Yura initially invested in CBB in 2019, acquiring a 19.9% stake as part of its international expansion strategy into the Southern Cone.
* This investment was a important step for Yura to consolidate its position in the regional cement market, building on its existing exports to Chile.
* Yura’s industrial base is located in Arequipa, Peru.