St. Marys Cement Inc. (Canada), a wholly owned subsidiary of Votorantim Cimentos, and McInnis Cement Inc. agreed to combine their assets to create a combined an entity to manufacture, distribute and sell cement in Canada and the United States. The joint venture will be owned by Votorantim Cimentos International, the international investments platform and wholly owned subsidiary of Votorantim Cimentos S.A., the sixth largest cement producer in the world, and Caisse de dépôt et placement du Québec (“CDPQ”), through its investment in McInnis Holding Limited Partnership.
The transaction remains subject to customary closing conditions, including approval by regulatory authorities in Brazil, Canada and the United States. The two companies will continue to operate as separate businesses pending the closing of the transaction.
Fasken, with a team comprised of Constantinos Ragas, Joëlle Simard and Oleg Stratiev (M&A), Marie-Josée Neveu (Governance), Alain Ranger (Tax), Antonio Di Domenico (Competition Law), and Alain Riendeau and Brandon Farber (Litigation), acted as legal counsel to CDPQ in connection with the transaction.
