Cementos Argos stretches north

Colombian firm Cementos Argos last week agreed a $720m deal with US-based Vulcan Materials to buy a number of concrete plants in Florida. The deal makes Argos one of the largest cement producers in the south-east US, doubling the firm’s production capacity in the country. The price equates to a multiple of between 2.8 and 3.6 times sales, according to Credicorp Capital The acquisition is subject to regulatory approval.