Ancap seeks partner for cement business

Ancap seeks partner for cement business

Corporate & Sovereign Strategy M&A Uruguay

Uruguay's state-owned oil company Ancap said it is seeking a partner for its cement business in an effort to turn around two decades of losses. The company opened a process to hear the proposals of potential partners on Thursday, according to a press release. The new partner will help improve the business, including through investments to make it more competitive. Bidders have 30 days to express their interest in bidding for the partnership, which an auction will be held for a stake in the busin

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