Voto Preps Cement IPO

Votorantim Cimentos has put the wheels in motion for an IPO, according to regulatory documents. The size and timing remain to be determined for the sale, which will include both primary and secondary shares. BTG Pactual, Credit Suisse, Itau, JPMorgan and Morgan Stanley are managing the sale, which will raise proceeds to spend on both organic and acquisition-based expansion. The cement unit of the Votorantim conglomerate booked BRL3.07bn ($1.55bn) in Ebita in 2012.