Source: Renaissance Capital, Greenwich, Conn.; CP staff
Global initial public offering investment adviser Renaissance reports that poor market conditions have compelled Brazil’s Votorantim Industrial S.A. to withdraw an offering of shares in its largest business, Votorantim Cimentos S.A., earmarked for São Paulo Stock Exchange and New York Stock Exchange trading.
In 2012 business reviews, the world’s leading public cement companies confirm sales or profit declines reflecting deep ties to European Union economies beset by nightmarish governing. Brazil’s Votorantim Cimentos S.A. is preparing to join the publicly traded operators club, presenting investors a portfolio with a key differentiating factor—minor European exposure—compared to peers Cemex SAB de C.V., Heidelberg Cement, Holcim Ltd., Italcementi SpA and Lafarge Group.
Sources: Votorantim Industrial S.A., São Paulo; CP staff
The ultimate parent company of Toronto-based Votorantim Cement North America (VCNA) has outlined acquisition and management strategies to follow an initial public offering for shares of its multinational cement, concrete and aggregate business, Votorantim Cimentos S.A., trading on the São Paulo Stock Exchange and New York Stock Exchange.