As part of the transaction, the parties will combine their North American assets in a jointly-held entity.
International investments platform Votorantim Cimentos International will hold 83% and CDPQ will indirectly hold 17% of the shares.
The business combination is expected to strengthen the strategic positioning of the combined operations through increased cement production capacity, operational efficiencies and an enhanced distribution network.
The combined entity will comprise operations in Bowmanville in Ontario, Canada, and in Detroit and Charlevoix, Michigan, Dixon, Illinois and Badger, Wisconsin in the US.
The deal also includes an extensive distribution network concentrated in the Great Lakes region — plus the Port-Daniel – Gascons plant and its distribution operations, including terminals located in Quebec, Ontario, New Brunswick, Nova Scotia and the Northeastern region of the US.