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France's Vicat Group has signed a binding agreement to buy a 65% share in Brazilian cement producer Cimento Planalto (Ciplan) for €290 million through a reserved capital increase. Ciplan operates a 3.2Mt/yr integrated plant in Sobradinho, Bahia.
Vicat confirmed it is in conversations with Ciplan (Cemento Planalto SA) regarding a potential investment in the Brazilian cement, mortar, concrete and aggregates group. No further details were disclosed.