If the transaction is completed through a public offering of shares (OPA), the Peruvian firm would control 40% of CBB.

Despite the fact that the American company's offer was higher, Cementos Bío Bío (CBB) confirmed that the company's controlling shareholders decided to end negotiations with Mississippi Lime Company (MLC) regarding the proposal they made to acquire all the shares of the local company.

This is in the context that the current shareholder of the construction company, Yura Chile SpA, (subsidiary of the Peruvian company of the same name) made an initial offer for 20.0590% of the company's shares at a price of $1,092.10 (US$ 1.11) per share.

Later, it was learned that MLC had another purchase proposal for 100% of the shares at US$1.89, around $1,840 at the current exchange rate.

The dispute over Cementos Bio Bio

However, Yura decided to raise the stakes and although he did not indicate that he would seek to acquire more shares, he did raise the price he would pay for each one: $1,450 (US$ 1.48).

In this way, it values the well-known local company at US$ 390 million, according to Diario Financiero .

On the other hand, MLC valued Cementos Bío Bío at US$400 million, compared to the US$250 million initially offered by Yura.

However, the cement company has now confirmed to the market, through an important action before the Financial Market Commission (CMF), that only its Peruvian investor would remain in the dispute over its ownership.

If the transaction is completed through a public offering of shares (OPA), the Peruvian firm would control 40% of CBB.