Cuatrecasas advises Simetría on the sale of its shareholding in Élite Cementos as part of its diversification strategy
Cuatrecasas has advised Grupo Simetría
on its agreement with the construction group Holcim Spain
—both shareholders of Élite Cementos—to close the transaction by which Holcim acquires all the shareholding and becomes the sole shareholder.
Simetría and Holcim were co-owners of the Élite Cementos cement plant, controlling 35% and 65% of its share capital, respectively. The plant will continue to operate under the same brand names and continue its commercial activity.
This transaction is part of Grupo Simetría’s strategy to continue with its diversification plan. After achieving a turnover in 2022 that was 11% higher than the previous year, the company is committed to expanding its business and boosting the area of waste management services, the water management cycle, energy and building materials.
“Simetría, a major business group in the autonomous region of Valencia, shows its continued trust in Cuatrecasas for the sale of one of its businesses in a sector such as cement production and distribution, in which the firm has extensive experience in all areas of law,” said Juan Grima
, the Cuatrecasas Corporate and M&A partner who led this transaction with the support of Cristo Gordillo.