Holcim Ltd Acquires Control of Cementos Pacasmayo SAA via Inversiones ASPI Acquisition

On March 30, 2026, Holcim Ltd completed the acquisition of 99.99% of the common stock of Inversiones ASPI S.A. from Eduardo Hochschild Beeck and Farragut Holdings, Inc. for approximately S/1,850,370,000 (roughly $2.28 billion). Because Inversiones ASPI S.A. directly holds 211,985,547 common shares of Cementos Pacasmayo SAA (CPAC), Holcim now beneficially owns 50.01% of the issuer. The acquisition was funded through Holcim's working capital. Under the terms of the Purchase Agreement and Peruvian law, Holcim is required to launch a public tender offer for at least an additional 24.99% of CPAC's common shares within six months. Following the completion of this tender offer, Holcim intends to delist CPAC's American Depositary Shares from the New York Stock Exchange and deregister the securities. As part of the transaction, Holcim has already designated two members to CPAC's board of directors. The reporting persons indicated that the acquisition was made for strategic investment purposes to expand Holcim's presence in the Peruvian construction materials market.