A new player in the construction materials market, LATCEM, has completed a deal to simultaneously acquire control of two leading cement producers in the region – InterCement in Brazil and Loma Negra in Argentina. The transaction marks one of the largest consolidations in the Latin American cement industry in recent years.
The investor consortium, formed by Pampa Energía together with Redwood Capital Management and Moneda–Patria Investments, injected 110 million USD in fresh capital to support the restructuring of the assets. In the updated ownership structure, LATCEM holds the largest stake at 38.7 %, followed by Redwood Capital (26.7 %) and Moneda–Patria (24.0 %), while Cigna Health and Life Insurance owns 4.9 %.
For the first time in nearly two decades, key cement assets are moving from Brazilian control to a consortium led predominantly by Argentine investors.
