Between May 16th and 17th, Buzzi SpA received notification of the exercise of the put option granted as part of the existing agreements to Grupo Ricardo Brennand, concerning the 50% stake in NCPAR (formerly BCPAR), the equal joint venture through which Buzzi has been operating in Brazil since 2018. As a result of this exercise Buzzi will acquire 100% control of NCPAR.

NCPAR owns 5 fully integrated cement plants and 2 grinding centers, with a total production capacity of over 7.2 million tons/year.

The execution of the sale agreement, following the exercise of the put option, is subject to approval by the Brazilian antitrust authority (CADE). It is believed that the transfer of the stake will likely take place by the end of the current fiscal year.